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How high will Stanbic’s share price be in January?
THE commercial cank, Stanbic - formerly the Uganda Commercial Bank - has launched its Initial Public Offering (IPO) on the Uganda Securities Exchange in one of the most eagerly awaited listings of stock in recent years.
Stanbic's IPO opened its shares to the public with the share price at Shs70 ($0.04), but its first day of trading in the newly listed Stanbic Bank won’t be until January 25, 2007.
However, there is speculation about how much profit ordinary people will enjoy if they invest in these shares.
The Uganda Commercial Bank was founded in 1965 by the Uganda government, and in February 2002, Stanbic Bank of South Africa bought 90 percent shares in UCB and changed the company to Stanbic. Stanbic has the largest network of any bank in Uganda, with 75 branches countrywide and also owns 105 ATM) machines, over three times more than any other bank in Uganda.
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