2011 Year Review of CAL Bank on the Ghana Stock Exchange.

Overview of Company

 CAL Bank Limited formerly Continental Acceptances Limited and then CAL Merchant Bank was incorporated on March 20, 1989 but the bank was licensed in June 1990 and commenced business in July 1990. With issued shares of 238,802,978, CAL Bank is listed on the Ghana Stock Exchange (GSE) and the share price is 0.23p as at December 6, 2011. We would be looking at how this bank performed on the GSE for the 2011 financial year.
As at 31st December, 2010, the Social Security and National Insurance Trust (SSNIT) held 82,363,074 shares in the bank making 34.13% whiles Mr. Afare Donkor, the largest individual shareholder and second largest shareholder held a stake of 7.51% representing 18,120,000 shares.



Analysis

CAL Bank began the year, 2011 with a share price of 0.33p (04/JAN/2011) and because of investor activities & active trades, share price of the bank rose to 0.39p (04/FEB/2011). Meanwhile, the stock price dropped steadily after that time to close at 0.26p on 22/March/ 2011. Further fluctuation of price was recorded from July to October 2011. Ten months down the year, CAL recorded a Year high of 0.39 pesewas and Year-Low of  0.25 pesewas (p). The volume of trade heightened at the end of October and hence was reflected by an increased in share price by some pesewas.
CAL stock and other financial stocks performed badly in November making the Financial Stock Index remain lower than the Base index of 1000.

The Year 2011 obviously was not the best year for most stocks on the GSE and CAL Bank is no exception.

I would be writing on Ecobank Ghana Limited (EBG) in my next post. I would be reviewing EBG stock on the Ghana Stock Exchange for the Year 2011.

[Courtesy: Ghana Stock Exchange, Bloomberg]

Year Highs & Lows of Fan Milk Limited on Ghana Stock Exchange

After ten (10) months of trading on the Ghana Stock Exchange (GSE), the Year High of Fan Milk Limited (FML) still remains low comparably, and this is not impressive. Last year, Fan Milk Limited recorded a Year high of GHȻ 10.57 by the close of trading on 10th December, 2010. In that same year, the Year Low of FML as at 10th Dec. was GHȻ 5.55, although GHC 2.5 was recorded on 4th & 5th January. Investors obviously had confidence in the ice cream company and kept trading shares day to day. 

Fan Milk Limited began the year, 2011, with a Year High of GHȻ 2.45 (i.e. on 4th January) and ten (10) months down the road, the Year High was recorded as GHȻ 3.11 (i.e. on 2nd November). October ended with a little tumble of FML share price but November brought a recovery smile as investors gained confidence in the stock. Trading of FML shares on the GSE have been consistent since last week and this is good for the market.

The ice cream company still remains the leading producer of ice cream in the Ghanaian market. Monopoly, people call it, but I call it Supremacy. FML is currently trading at GHȻ 2.53 per share.