Uganda Securities Exchange (USE) has instituted a security halt on the New Vision Printing and Publishing Company limited (NVL) activity on the USE market.
According to USE, the move comes after a sporadic price decline from UGX227 to UGX57 per share (74.8%) which forced USE to impose a security halt on the NVL counter effective February 11, 2022 until further notice.
USE in a bid to keep a fair, transparent, order and efficient market under which it operates has asked all the other trading participants to notify their clients accordingly.
NVL was listed on the Uganda securities exchange in November 2004 at the time, 51,000,000 ordinary shares were issued. In 2008, the company undertook a rights issue which increased the company’s ordinary shares to 76,500,000 shares of UGX 19.66 each and a share capital of UGX 1,503, 990,000.
The company has been struggling since the first lockdown in 2020 which affected its operations.
