Uganda Approves Sale of Shares in Local Unit of CIC Group Kenya

November 2, 2016


Company cleared to sell 724,900 ordinary shares to Ugandan co-operative unions and Savings and Credit Co- operative Organizations, or SACCOs, Kampala-based Capital Markets Authority says in statement on its website.

* Company expected to raise ~7.25b shillings at 10,000 shillings/share;
* CIC Uganda shares won’t be listed on any stock exchange once offer is closed;
* NOTE: Insurer is unit of Nairobi, Kenya-based CIC Insurance Group. Source: Bloomberg