Cipla Ugandan unit | Pixr8 News

India's pharmaceutical giant Cipla has been one of the most popular companies in its sector. The Ugandan unit of the pharmaceutical giant has reportedly raised $43.8 million (167 billion Ugandan shillings) from its oversubscribed initial public offering (IPO). Talking further about the IPO, Cipla Quality Chemical Industries Ltd (CQCIL) which is majority owned and operated by India's third-largest drugmaker sold 657 million shares equivalent to 18 percent of the firm's total equity. Every share in the IPO was priced at 256.5 shillings. "The offering has been oversubscribed with the major part of the demand coming from blue-chip Sub-Saharan Africa investors," John Porter, chief business officer at investment bank Renaissance Capital stated. Cipla is an Indian multinational pharmaceutica...

India’s pharmaceutical giant Cipla’s Ugandan unit is reportedly aiming to raise $45 million from initial public offering (IPO). The company priced its IPO at 256.5 shillings per share. This amount is expected to be raised from its listing on the Kampala stock exchange next month. Cipla Quality Chemical Industries is majority owned by India's third-largest drugmaker and is selling 657,179,319 shares or an 18 per cent stake in the company. In this regard, the company has stated that each of its shareholders would be “selling a minority of their stakes” in the IPO and also the transaction and potential listing had gained regulatory approvals. The company expressed as part of its growth strategy, it “has been evaluating an initial public offering and listing of its issued share capital ...

Tag: Cipla Ugandan unit

Cipla’s Ugandan Unit Raised $43.8 million from IPO

Cipla’s Ugandan Unit Expects to Raise $45 million from IPO