Umeme Chairman Patrick Bitature has confirmed the commencement of trading of Umeme shares. He says the transaction which will be completed on Monday 19th May has attracted one of the largest investors in Africa.
“We are excited Umeme has been able to attract so much interest and we are excited big institutional investors are looking at Uganda as an attractive destination to do business in.”
The Uganda Securities Exchange this morning lifted the suspension of trading of Umeme Shares on the bourse after the company confirmed the negotiations with new share holders was complete.
Managing Director Charles Chapman expressed his gratitude to the Uganda Securities Exchange and Capital Markets Authority for supporting Umeme during this transaction. He said, “The support we have got from USE, CMA and our lead transaction advisor Stanbic Bank has been instrumental in enabling Umeme to attract new investors who will give us access to financing that will fund the next phase of our CAPEX program.”
The new shareholder list will be unveiled on Monday 19th May 2014 when the transaction is signed off.