FH explains share price jump
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FH explains share price jump

 
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FH explains share price jump

Posted on Sun 16 Dec 2007 19:33 by sharewadi 		Reply with quote

ADSM 16 December 2007 (download):
(FH) Increase in Finance House Share Price 16/12/2007

It's not often you see a company attempt to explain why their share prices are suddenly up. Usually they just say they have no idea, and there doesn't seem to be any penalty applied when news is subsequently released that explains the increased prices. So it makes a pleasant change to see Finance House (FH) attempt an explanation. Although I wonder if that's the most prudent course of action.

I don't really follow the third item though. However the first item could be seen as encouraging, although profits for companies that depend on the stock market for their earnings are usually more volatile. See also...

Finance House 2007 M9 report
Finance House 2007 Q3 report

I thought it a little odd that FH got the query in the first place. We're only talking about trading volumes of 1.3 million shares on Thursday, and 185k today. Admittedly the price was up 9% and 10% on the two days respectively, but there are other stocks that regularly yo-yo up and down by that much on low volumes.

Finance House 16 December 2007:
Mr. Khalid Khalfan Al Suwaidi
Senior Manager, LC Dept.
Abu Dhabi Securities Market
P.O. Box 54500
Abu Dhabi
United Arab Emirates

Dear Mr. Al Suwaidi,

Sub: Increase in Finance House Share Price

We refer to your letter dated 16/12/2007 (Ref:ADSM/LC/192/2007).

We assume that the following factors might have contributed to the recent upswing in the price of Finance House shares...

- Anticipation of improved fourth quarter results arising from investment gains consequent to recent rises in GCC stock markets.
- Finance House shares being significantly undervalued in relation to its peers and the market in general
- Potential large block trade of Finance House shares representing a significant holding in the company at hitherto unknown premium to prevailing Finance House market share price

Sincerely,

Abdul Hamid Umer Taylor
General Manager

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