Jubilee Holdings cross-listed on USE
Feb 15, 2006
JUBILEE Holdings Limited (JHL), the parent company of Jubilee Insurance Uganda, has cross-listed on the Uganda Securities Exchange (USE).
By Peter Kaujju and Charles Bwogi
JUBILEE Holdings Limited (JHL), the parent company of Jubilee Insurance Uganda, has cross-listed on the Uganda Securities Exchange (USE).
During the opening of trading at USE on Tuesday, Zulfikar Mohamed, the group’s managing director, said listing in Uganda was part of an expansion strategy and will to share profits with Ugandans.
“JHL is excited to be cross-listing on the Uganda Securities Exchange following approval by the Capital Markets Authority and the USE. We are a strong group and dedicate ourselves to the Ugandan market because it is important. We will do everything possible to satisfy our shareholders,†Mohamed said.
The company issued 36 million ordinary shares and the counter registered sh2.4m in turnover on Tuesday in its first trading day at sh2,405 per share.
JHL’s listing brings the number of cross-listed companies on the Ugandan bourse to three after East African Breweries and Kenya Airways.
USE’s market capitalisation rode on the cross listing to rise by 2.5% (sh89.3b) to sh3,640.4b from sh3,542b last week.
Simon Rutega USE’s chief executive officer said Jubilee Holdings’ cross listing was a milestone in the history of USE and would contribute enormously to enhancing liquidity of the stock exchange.
JUBILEE Holdings Limited (JHL), the parent company of Jubilee Insurance Uganda, has cross-listed on the Uganda Securities Exchange (USE).
During the opening of trading at USE on Tuesday, Zulfikar Mohamed, the group’s managing director, said listing in Uganda was part of an expansion strategy and will to share profits with Ugandans.
“JHL is excited to be cross-listing on the Uganda Securities Exchange following approval by the Capital Markets Authority and the USE. We are a strong group and dedicate ourselves to the Ugandan market because it is important. We will do everything possible to satisfy our shareholders,†Mohamed said.
The company issued 36 million ordinary shares and the counter registered sh2.4m in turnover on Tuesday in its first trading day at sh2,405 per share.
JHL’s listing brings the number of cross-listed companies on the Ugandan bourse to three after East African Breweries and Kenya Airways.
USE’s market capitalisation rode on the cross listing to rise by 2.5% (sh89.3b) to sh3,640.4b from sh3,542b last week.
Simon Rutega USE’s chief executive officer said Jubilee Holdings’ cross listing was a milestone in the history of USE and would contribute enormously to enhancing liquidity of the stock exchange.