CiplaQCIL is selling 657 million shares.
Uganda drug maker Cipla Quality Chemicals Ltd (CiplaQCIL) has announced the unit price for its initial public offering (IPO).
CiplaQCIL is floating 657 million shares at Ush256.5 ($0.07) per share after the Uganda Capital Markets Authority approved its prospectus.
Keith Kalyegira, chief executive at the CMA welcomed the listing.
“We congratulate CiplaQCIL upon taking this step up the financing escalator, which now increases the companies financing options. This is a clear sign of the confidence our private sector has in the economy, and in Uganda’s capital.”
The Uganda Securities Exchange has not attracted an IPO since power utility firm Umeme listed in 2012.
The offer is open to the general public until August 24 and listing on the USE is scheduled for September 24.
CiplaQCIL manufactures generic HIV drugs, anti malarials and Hepatitis B and C drugs.