Uganda Securities Exchange - Uganda Multimedia News & Information https://www.weinformers.com Politics, Health, Sceince, Business, Agriculture, Culture, Tourism, Women, Men, Oil, Sports Wed, 12 Dec 2012 19:04:35 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.2 Umeme to refund oversubscribed shares https://www.weinformers.com/2012/12/12/umeme-to-refund-oversubscribed-shares/ https://www.weinformers.com/2012/12/12/umeme-to-refund-oversubscribed-shares/#respond Wed, 12 Dec 2012 19:04:35 +0000 http://www.weinformers.net/?p=27753 Power distribution company Umeme has raised $100 million from its Initial Public Offering failing to meet the set target of $178 million. The Chairman of the company Patrick Bitature says they have sold shares worth 69 million dollars approximately However, he says the company will have to refund money to people who did not get […]

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]]> Power distribution company Umeme has raised $100 million from its Initial Public Offering failing to meet the set target of $178 million.

The Chairman of the company Patrick Bitature says they have sold shares worth 69 million dollars approximately

However, he says the company will have to refund money to people who did not get their shares because they were oversubscribed by 36.9 percent.

Speaking to journalists Bitaure noted that they have to refund over 30 million US dollars for people who missed out.

This comes as the company starts its secondary trading of shares at the Uganda Securities Exchange.

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