ad. Buy Grade A Premium Uganda Vanilla Beans NOW Available for Export
ACTIS Halts sale of Uganda Bank Shares
Thursday, October 20Th 2011
Ownership of the DFCU Limited a Ugandan Bank has remained intact after ACTIS, a London Based private equity firm which holds controlling stake of the bank withdrew from the sale of its shares.
ACTIS owns 60% of DFCU Bank and owns 100% of power distributor UMEME limited in Uganda.
In light of the sale, DFCU issued a cautionary announcement in June warning local investors about a potential change in the company's share price. Recently, DFCU limited said the transaction has been suspended not explaining why the sale was cancelled.
As a listed company, DFCU is required by the Uganda Securities Exchange, the regulator of the local stock market to update investors about transactions affecting the ownership of the firm.
Actis received an expression of interest for the purchase of a substantial number of shares in June forcing DFCU to issue a cautionary announcement.
Click here to post comments
Join in and write your own page! It's easy to do. How? Simply click here to return to On the Equity Market : Africa Uganda Stock Markets News .
Haven't yet found what you Want...?
If you haven't yet found what you were looking for or you need detailed information about the subject matter on this page
feel free to ask our business travel consultants.