Stanbic Bank has listed an additional 40 billion shares on the Uganda Stock Exchange, a move that the bank says will benefit its shareholders.
This is Stanbic Bank’s second bonus offer after one done in 2011 and will bring the total number of shares to 51billion from the current 10billion.
Speaking at the official listing at the USE head offices on August 9 Philip Odera, the bank’s managing director said the second listing is in compliance with new minimum capital requirements (Shs25billion) set by Bank of Uganda in 2010.
Odera said surpassing BoU’s capital requirement helps the bank to tackle any financial shocks that could befall the bank in future.
This offer was passed at the bank’s Annual General Meeting in May 2012.
written by Louis Vuitton Bags, August 18, 2012