The Uganda Securities Exchange has halted trading in the securities of New Vision, the media group, so it can investigate recent trading of the stock that led to a fall in its price.
The market price of the stock fell by 449.1 per cent between 27 December 2021 and Thursday, 10 February, from Shs331 to Shs57. It has also lost 110.5 per cent of its market price since the beginning of this month.
“The exchange, in keeping with its mandate to ensure a fair, transparent, orderly, and efficient market has imposed a security halt on the NVL counter as it conducts an expedited evaluation of recent trading activity which resulted in a sporadic share price decline,” the USE said in market notice.
This website was unable to get a comment from Vision Group, which trades as the New Vision Printing and Publishing Company Ltd, and the USE. USE said the stock was suspended “until further notice.”
