Uganda securities exchange has instituted a security halt on New Vision Printing and Publishing Company limited effective February 11, 2022. The organization has also informed trading agents to notify all market participants not to engage the New Vision counter over drastic share price decline.
The Exchange is a central place for trading of securities by licensed brokers/dealers. It provides a credible platform for rising of capital; through the issuance of appropriate debt, equity and other instruments to the investing public.
However, in a letter to the New Vision by the Chief Executive Officer of the Uganda Securities Exchange Paul Bwiso, the organization will also conduct an investigation into a reduction in New Vision shares to ascertain cause.
“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 letter reads.
Suspended trading usually occurs in a bid to protect probable investors from investing in a company that is running insolvent.
