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
Egypt to offer projects to domestic, foreign investors
Egypt will offer a slew of projects to domestic and foreign investors at a conference in March aimed at kick-starting an economy battered by years of political unrest....
Students’ involvement in investment negotiations is key
University students have been urged to get involved in negotiations of trade, bilateral and investment agreements rather than leaving it to technocrats and politicians....
Practices to add to your daily business schedule
At the end of each day’s work, find time to identify three things that went well. Once you identify them, ask the critical question such as, “Why did ‘X’ go well?”...
Dubai insurer set for Uganda
The new firm will enter into strategic partnerships to oversee, design, and control processes of selected licensed brokers....
Textile manufacturers want the national textile policy implemented
Textile industries are pushing for the implementation of a National Textile Policy. They also want government institutions compelled to buy textiles from local companies....
BOU has no influence on govt spending
There have been allegations in the media that Bank of Uganda printed money for the 2011 elections, which led to the high inflation rate at the time....
Should workers be subjected to a 4% Health Insurance Tax??
Yes
No
Can't Say
follow us
subscribe to our news letter