Esteemed Client,
Attached, please find Uganda’s Umeme IPO update.
The Umeme IPO has been ongoing for a week now . The IPO opened on 15 October 2012 and closes on 7 November 2012.
Umeme has also applied to Kenya’s CMA to list on the Nairobi’s Securities Exchange (NSE) by introduction. An approval is yet to be granted.
The power distributor is offering 622,000,000 (38% stake) shares at a price of UGX 275/- bringing the total offer size to UGX 171.1 billion (USD 65.9 million, KES 5.6 billion). This effectively means the market cap for Umeme is UGX 450 billion (USD 173.5 million, KES 14.8 billion).
The allocation criteria is as follows:
1. Employees 9%
2. Retail 20%
3. Institutions 25%
4. International book 46%
Citizens of Kenya, Uganda, Rwanda, Burundi and Tanzania will be treated as local investors.
The prospectus can be accessed at Umeme.co.ug under the “just in Section”
Regards,
Bob.
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