Nawaloka goes for share split

Wednesday, 6 October 2010 00:30 - - {{hitsCtrl.values.hits}}

Already liquid but perhaps joining the trend, Nawaloka Hospitals Plc yesterday announced a share split on the basis of one into two.

The Company currently has 704,752,798 shares and post sub division it will increase to 1.4 billion.

The move is subject to shareholder approval. Public holding of Nawaloka is around 32% with 7,300 shareholders in total including 7,200 individual shareholders.

Yesterday Nawaloka enjoyed 6% stake or 42.7 million of its one rupee shares trade between a high of

Rs. 10 and a low of Rs. 9.10 before closing at Rs. 9.30, down by 10 cents. Its market capitalisation was

Rs. 6.5 billion or 0.27% of the total. Its price at end of June quarter was Rs. 7.50 whilst net asset per share is below Rs. 2. Last week slightly over 30 million shares traded and the share price peaked to a new 52-week high of Rs. 9.20 before closing at Rs. 9, up by 60 cents from the previous week.