Monday, May 07, 2007

City Share Price Movements (Week Ending 4.5.07)

This is the weekly article charting Manchester City Plc's share price movements during the last week. The price doesn't usually move very much and not many shares are usually traded, so you can pick up here at the end of each week our summary of the week gone by.

Before the market opened at the start of the week, it was rumoured that the ex-Thai Prime Minister, Thaksin Shinawatra, had approached Manchester City Plc with an indicative offer. Thaksin Shinawatra's people confirmed this on Tuesday afternoon (1 May) by which time the majority of last week's share activity had taken place. Reports suggest that Thaksin Shinawatra is fronting a consortium of investors and that the board of Manchester City Plc have give them permission to look at the books. This will enable the consortium to complete their due diligence and assess whether they will follow up their indicative offer with a formal bid.

Until a formal bid is made it is unlikely that the full details of Thaksin Shinawatra's bid or consortium will be known.

Last week:-
Finishing price (mid): 42p
Bid price: 37p
Offer price: 47p

Share price movement for the week:-

30/4 11,235
01/5 12,500
02/5 500
03/5 0
04/5 50

Total volume for the week: 24,285

All information taken from Plus Markets Group


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