Cipla Quality Chemicals lists over 600m shares on Uganda Securities Exchange
By George Aine
Uganda’s largest pharmaceutical company Cipla Quality Chemical Industries Limited (CiplaQCIL) on Monday listed its 657,179,319 shares on the Uganda Securities Exchange (USE) for the general public to begin buying.
Speaking at the listing of CiplaQCIL at Kampala Serena Hotel, the chief executive officer of CiplaQCIL, Mr. Nevin Bradford said:
“This public listing is in line with our long-term vision at CiplaQCIL to become a center of excellence in the manufacturing of quality, affordable and newer medicines that improve the quantity and quality of life.”
Mr. Bradford said since their humble beginning 13 years ago, they have made a significant contribution to the effort to save lives by arresting the scourge of dreaded diseases, such as malaria, HIV/AIDS and hepatitis B.
“Our WHO pre-qualified products are already approved by regulatory authorities in Uganda, Kenya, Rwanda, Tanzania, Namibia, Ivory Coast, Zambia, Zimbabwe, Malawi, Namibia, Mozambique, Ghana, Ethiopia, Angola, and South Sudan among others. We continue to pledge zero tolerance for any compromise in quality,” he said.
CiplaQCIL which is also a leading pharmaceutical manufacturing company in Sub Saharan Africa becomes the nineteenth company to list its shares on Uganda Securities Exchange.
Cipla IPO raises number of accounts holders
The CEO of USE, Mr. Paul Bwiso during the listing of CiplaQCIL said the period when CiplaQCIL Initial Public Offering (IPO) was in the market for 10 days 3,000 new investors opened accounts at USE bringing the total number of accountant holders at USE to 33,000.
“We congratulate CiplaQCIL upon being the first company with Ugandan founders and entrepreneurs to bring their company for a listing on the USE,” he said.
“It is the 9th local company to be listed and as a pharmaceutical manufacturing company offers investors a unique asset,” he added.
“As part of the USE mandate and the leading platform for secondary market trading in Uganda, we must continuously review our value addition to all stakeholders, investors, issuers, custodians, brokers, and all market players.
“We congratulate CiplaQCIL on this historic achievement and thank them on behalf of the market.”