Uganda: Umeme IPO oversubscribed
Issue 244
- 29 Nov 2012
| 1 minute read
An initial public offering (IPO) of shares in Actis-owned distributor Umeme which closed on 7 November was oversubscribed by more than 35%. But the utility remains under fire for poor performance after a series of blackouts caused by system upgrades and faults on the Namanve and Mutundwe substations, despite hopes that the commissioning of the Bujagali power station would alleviate the supply problem.
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