Wema Bank plc set for a change
April 12th, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
For a bank that has in the recent past not had any significant progress in terms of price movement of its stock on the floor of the exchange, things are now looking bright for the future of Wema Bank plc.
The ODUA group that was holding majority shares of the company which was responsible for this not too good situation have divested their investment in the company. In the last one week of this act, the price of the company has increased by about 20%, due to the rush for its shares.
Wema Bank is a bank that has been in existence for as far back as 1994 and really has not done well in the stock market. The table is however about to turn as the ownership and management structure has taken a new turn.
If our projections are anything to go by, we believe that the price will appreciate by over 100 percent before the year runs out.
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i am amazed by the prize progression of wema shares from 3.0nrn to the current 7.0 naira do u think this is bonus expectation driven.