BOS share price

sharewadi · Posted on Wed 04 Feb 2009 11:52 by **sharewadi**

Bank Of Sharjah (BOS) says they have no information that could be driving their share price up. What? They don't know what their results are? Given the time of the year, and that BOS haven't released 2008 FY results yet, I would expect that an unexpectedly good fourth quarter is the most likely reason. I can't find any comments or explanations in news sources (except for most papers reporting that BOS share price rose).

BOS shares have been 10% limit up, or close to it, every day since 27 January 2009, except yesterday, along with substantially increased trading volumes. It appears trading in BOS shares was suspended by the Abu Dhabi stock market (ADX) (I don't know if the suspension error for Sharjah Islamic Bank (NBS) was the ADX or Mubasher). Today BOS shares are up 6.7% to AED 1.59 so far.

Mubasher 03 February 2009 09:55:

NBS suspended due to disclosure

Mubasher 03 February 2009 10:17:

Correction: BOS suspended due to dislosure

Mubasher 04 February 2009:

BOS will Pre open at 10:56am - Open at 11:00am

Mubasher 04 February 2009:

BOS:disclosure is on www.adx.ae

ADX 04 February 2009 (during trading - 10:50):

(BOS) Bank of Sharjah denies any material information related to increase in the share price

No further information supplied by Bank of Sharjah in their disclosure.
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khurrammts · opportunist Joined: 18 Apr 2008 Posts: 25

During the great fall that most of the local shares experienced during the past 6 months, BOS was the only stock which remained more or less un-affected until BOS held its board meeting-- Following the board meeting the fall that BOS witnessed in tadings was unprecedented-

However, I couldn't be sure if any body asked BOS for the reasons of the plight of the share all of a sudden---
Again I am not sure but I guess that the stock traded during after board meeting and 26th Jan, 09 is lower than the stock traded between 27th Jan to 4th Feb.2009----
My point is that even at 1.59 BOS is under valued considering its continous performance and
distribution of cash dividends for the past several years--- Its 4th quarter result is not yet disclosed but M9 figures are impressive--- Any institution that is willing to pay cash dividned for year 2008 will be restoring the investors confidence back in the market-