8 November 2012

Uganda: International Financial Corporation to Buy Umeme Shares.

A day to the closure of the Umeme Initial Public Offer (IPO), the sale of shares, David Alderton the Corporate Development Manager announced the intentions of the International Financial Corporation to buy Umeme Shares.

The corporate Advisor African Alliance Brokers, William Nyakatura says there has been a big turn up of applications from around the region though Rwanda has only had individual applications.

The Managing Director Charles Chapman said that international shares where sold up by the end of October where the company collected US$31million.

He urged Ugandans to buy more shares for they have a bonus for every ten shares bought and also said every Umeme account holder is entitled to buying the Umeme shares.

The Umeme staff have been given each 10,000 shares as part of the moral boast to the workers and that if they maintained their shares for a period of three years, they stand to benefit more,"

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