Business
Umeme to trade at market rate till May 19
Publish Date: May 13, 2014
Umeme to trade at market rate till May 19
Uganda Security Exchange Board Writers take records during trading at the security exchangeon May 13, 2014. PHOTO/Kennedy Oryema
  • mail
  • img
newvision

By David Mugabe

Listed power distributor Umeme will resume trading at the Uganda Securities Exchange (USE) at normal market rates.

USE acting chief executive, Innocent Dankaine, clarified that the market forces of demand and supply will dictate trading price picking up from Monday’s closing price of sh360.

The power distributor yesterday did not trade at the 10 o’clock session as a red tag appeared on its counter which brokers said signified the suspension of activities.

However, Dankaine also clarified that the special offer of 34,000,000 shares offered at sh340 (5.56% discount from current market price of sh360) per share will begin on May 19, 2014.

Retail traders expecting to be a part of this secondary deal, will transact through their brokers.

The offer will be open to East African retail clients closing on 30th May 2014.



 

The statements, comments, or opinions expressed through the use of New Vision Online are those of their respective authors, who are solely responsible for them, and do not necessarily represent the views held by the staff and management of New Vision Online.

New Vision Online reserves the right to moderate, publish or delete a post without warning or consultation with the author.Find out why we moderate comments. For any questions please contact digital@newvision.co.ug

  • mail
  • img
blog comments powered by Disqus
Also In This Section
Makumbi is in love with computers
James Makumbi is mad about computers, so much that he says he prefers them to people because they don’t lie....
Billion dollar wildlife and gold trade fuelling DR Congo war: UN
Smuggling of ivory, gold and timber worth over a billion dollars a year is fuelling war by funding dozens of rebel groups in Democratic Republic of Congo, a UN report has warned....
How China is upsetting the old global economic order
WITH its huge new infrastructure bank and its ambitions for a globalized renminbi currency, China is leading the upending of a 70-year-old global order built on American economic power...
Fastjet launches new regional route
FASTJET Tanzania Airline has officially launched its newest flight between Kilimanjaro, Tanzania and Entebbe Airport...
Police impounds 80 tons of immature fish
POLICE in Arua together with the regional fisheries officers’ law enforcing officers impounded over 80 tons of immature smoked fish worth sh600m...
Skills development key in boosting informal sector
Building capacity through skills development is the only way to address the escalating poverty and unemployment levels, the Academic Registrar Management Training and Training Centre (MTAC) has disclosed....
Should African countries expel South Africans?
Yes
No
Can't Say
follow us
subscribe to our news letter