Uganda’s Umeme gets approval to list on NSE
14 December 2012, 10:37
Nairobi - A few weeks after Uganda's power distributor Umeme Limited went public in Kampala, the Capital Markets Authority (CMA) has given the firm green light to list its shares on the Nairobi Securities Exchange (NSE).
Capital News reports that the CMA authorised Umeme granted approval following thorough review of the applicant’s documents and is satisfied that Umeme Limited has adequately disclosed all material information in accordance with the requirements of the Capital Markets Act and the Capital Markets (Securities) (Public Offers, Listing and Disclosures) Regulations, 2002
The listing follows a recent Initial Public Offer of 273.37 million shares on the Uganda Securities Exchange, which was oversubscribed by 36.9 percent.
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