MTDC share prices go up

MALE -- Maldives Tourism
Development Cooperation’s
shares have gone up on the
Maldives Stock Exchange
since Feb 27.
Though no trading has
actually occurred, prices went
up from Rf95 per share with
face value Rf100 to Rf120.
One party has already offered
to buy 1,001 shares though no
one has complied.
A stock analyst said that this
shows strong confidence in
the public company set up by
government to ensure that the
general population of Maldives
can benefit from the lucrative
tourism industry.
“No one has offered to sell
any shares for Rf120 in the
hope that prices will still go
up,” a broker told Haveeru.
State Trading Organization
has already reported a rise in
stock prices though no one has
offered to sell any since Dec
25.
The price which a share of
STO was sold last was for Rf430 but since then interest
waned in STO shares. However, things have changed for
the better with stock prices now going up to Rf450.
But the lowest asking price for an STO share is Rf765.
STO Managing Director Mohamed Maniku said that the
rise in its stock prices was evidence of confidence in the
company’s performance.
The other two companies which have gone public,
the Bank of Maldives and the Maldives Transport and
Contracting Company, have not seen any major fluctuations
in recent times.
Related Website: www.maldivesstockexchange.com.mv

Source: Haveeru Daily