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
MPs demand accountability for sh5b for curbing banana wilt
MEMBERS of Parliament have demanded accountability from the Minister of Agriculture regarding sh5b allocated for fighting banana bacterial wilt in the country....
Museveni in China for Asian economic forum
President Yoweri Museveni is in the Chinese City Island of Hainan in Sanya for the BOAO Forum for the Asia Annual Conference....
Airlines scramble for new cockpit rules after crash
Airlines and policy makers rushed to mandate two crew members be in the cockpit at all times following revelations that from the doomed Germanwings flight....
Uganda robbed of sh1.5 trillion annually
UGANDA loses an average of $509m (about sh1.5 trillion) annually due to Illicit Financial Flows (IFFs). The figure is 10% of the current national budget...
KCCA wants sh7b for Usafi market
A Sh7b supplementary approval request by Kampala Capital City Authority (KCCA) for the purchase of Usafi market in Kampala has raised eyebrows among members of the parliamentary budget committee....
Workers MP demands workers representation on district councils
A proposal to have workers represented on district councils has been mooted by Workers’ representative in Parliament, Arinaitwe Rwakajara in a bid to ensure that their rights are protected and to curb exploitation....
Will the ban of food vendors help eliminate typhoid?
Yes
No
Can't Say
follow us
subscribe to our news letter