Kampala Stock Exchange Welcomes Newest Listed Company
An agribusiness processing firm became the latest company to list on the USE, in a move officials hope will encourage more local firms to go public.
The Uganda Securities Exchange welcomed its newest listed company this week, as an agribusiness processing firm completed an initial public offering that was oversubscribed by local and regional investors.
The listing is only the exchange's latest in several years, reflecting the slow pace at which Ugandan companies have historically turned to public markets for capital, typically preferring bank loans or private equity instead.
"Every new listing helps deepen our capital markets and gives ordinary Ugandans a way to own a stake in companies they interact with every day," a USE official said at the listing ceremony.
Market watchers say tax incentives for newly listed companies and growing interest from pension funds could encourage more firms to follow suit over the next few years.
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