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Uganda's dfcu launches rights issue

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Uganda's dfcu launches rights issue

Uganda's dfcu Ltd. will launch a rights issue of 263,157,895 ordinary shares with a nominal value of 20 Ugandan shillings, it said July 25.

The rights issue is conditional on approval by the Uganda Securities Exchange and the country's Capital Markets Authority. Shareholders as of close of business Aug. 24 will be eligible to participate in the rights issue.

Dfcu is the parent of dfcu Bank Ltd. and earlier in 2017 acquired the assets and liabilities of Crane Bank Ltd., which had been placed into receivership. The company currently has 497,201,822 shares outstanding, according to S&P Global Market Intelligence data.

As of July 26, US$1 was equivalent to 3,605.0 Ugandan shillings.