Uchumi Supermarkets Rises to Highest Since 2006 on Valuation
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Uchumi Supermarkets Ltd., Kenya’s only publicly traded retail chain, climbed to the highest since 2006 on speculation the shares are cheap relative to regional peers even after almost doubling this year.
The stock climbed 2.1 percent higher at 14.90 shillings, the highest since May 2006, by the 3 p.m. close of trading in the capital, Nairobi, according to data compiled by Bloomberg. The benchmark All Share Index fell 0.4 percent.