Uchumi to list on Kampala bourse next Wednesday

Uchumi to list on Kampala bourse next Wednesday

 

Uchumi to list on Kampala bourse next Wednesday
Uchumi Supermarkets has received approval to cross-list on the Kampala bourse barely a month after listing its shares on the Rwanda Stock Exchange (RSE).

The supermarkets chain has said it plans to start trading on the Uganda Securities Exchange (USE) next Wednesday, giving investors a third platform on which they can access its shares.

The company, whose primary listing is on the Nairobi Securities Exchange (NSE) will have added visibility in Uganda where it already has branches and to potential customers in the Rwanda market where it also hopes to expand operations.

The supermarkets chain, which has 23 branches in Kenya, 5 branches in Kampala and Gulu and one branch in Tanzania, is planning to expand into Burundi, Rwanda and South Sudan.

The supermarkets chain profit after tax for the full year ended June 2013 jumped 30.31 per cent to Ksh357.01 million ($4.1 million) as at compared to Ksh273.97 million ($3.2 million) as at June 2012 despite a rise in costs.

About Andrew Kwabena

The Editor of MoneyInAfrica

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