UK-based private equity firm Actis is set to dispose of a chunk of its shares at the Nairobi Securities Exchange (NSE) cross-listed power firm Umeme. The Uganda electricity vendor on Tuesday suspended trading of its shares on the Uganda Securities Exchange (USE) and Nairobi Securities Exchange (NSE) after the majority shareholder said it was selling a significant part of its stake. Actis has a 60.08 per cent shareholding in Umeme and has found an undisclosed group of investors to buy part of its shareholding. “Umeme hereby announces... that it has received notification from one of its major shareholders Umeme Holdings Limited — a subsidiary of Actis Infrastructure 2 LP which owns 60.08 per cent of the issued ordinary shares of Umeme — that it wishes to sell a significant portion of the shares it owns in Umeme to selected investors by way of private placement,” said Umeme in a statement.
Posted on: Wed, 07 May 2014 07:05:54 +0000
Trending Topics
Recently Viewed Topics
© 2015