Stanbic shares

[Yotch]

Do these still have any value and, if so, what is the current price?

 

[vash87]

I can't seem to find the exact value but I in the last 7 days they were trading at between 20 and 25 Ugandan Shillings..

 

[Yotch]

@vash87: Apparently the South African Stanbic was renamed to Standard Bank Group Limited in June 2002 so I am not sure how the Stanbic shares were affected. Any ideas? I am under the impression that the Uganda Stanbic is a different company?

From Page 20
To better reflect the group’s structure as a unified banking and financial services organisation,
rather than an investment holding company, the name of Standard Bank Investment
Corporation (Stanbic) was changed to Standard Bank Group Limited on Monday, 3 June 2002.

http://www.standardbank.com/SB-Historical-Overview-6th-ed-2009.pdf

 

[vash87]

Interesting. I'm not sure how that would affect the Stanbic shares but essentially Stanbic is still around with a different name so I imagine that they would be converted to standard SBK shares when the name changed. I'd be curious to know if that was the case.

 

[Yotch]

Hopefully somebody here knows the full story - if they were converted to the same number of SBK shares that would be great news!