Company Data
| Last traded |
R0.50 |
| Change |
R0.00 |
| % Change |
0.00% |
| Cumulative volume |
98,600 |
| Market cap |
R89.21m |
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Johannesburg – Food and agri-services business Ububele Holdings [JSE:UBU] endured a quite day of trading on Monday after consolidating its shares on a 50-for-one basis.
The company, which processes food and offers agricultural services, consolidated its shares in order to attract more market interest.
Prior to the consolidation Ububele’s shares had fallen into a tight trading range of between 1c and 2c on the AltX.
A little over 20 000 shares changed hands in 10 deals that saw Ububele’s share price trade as low as 65c and as high as 85c.
At the closing price of 66c Ububele’s market capitalisation was around R117m. At pre-consolidated trading levels Ububele’s market capitalisation veered between R88m and R176m.
Investec stockbroker David Sylvester said it was a soggy reception for such a massive consolidation exercise. "But this is typical of such an exercise. Perhaps the market will get some guidance when the company releases its year to end-June results."
At the interim stage Ububele produced diluted earnings of 0.19c/share – which translates into earnings of 9.5c/share on a consolidated basis.
- Fin24.com
The writer holds shares in Ububele.