dfcu Limited announced the official opening of the dfcu Rights Issue following approval from its shareholders and regulators. The approval was granted during the Company’s Board meeting held in June. The Rights Issue opened on Monday 04th September 2017 and will close on 25th September 2017. Shareholders on the register as at 24th August 2017 shall be eligible to participate in the Right Issue.
The announcement was made during a press conference at the Uganda Securities Exchange Offices.
Listed on the Uganda Securities Exchange in October 2004, dfcu Limited currently has close to 3,700. This Rights Issue is the first public capital raising activity by dfcu Limited.
Speaking at the press briefing, Paul van Apeldoorn dfcu bank Board Director said the Rights Issue is in line with the Company’s objective- to raise more capital that will support the Bank’s growth strategy.
The total number of shares on offer is of Ugx 263,516,083 open to current dfcu Limited shareholders is expected to raise UGX 200 billion.
Upon conclusion of the Rights Issue, the new 263 million shares of dfcu Limited will be listed on the Uganda Securities Exchange. This will increase the float of shares available trading on the dfcu counter, and is expected to spur more activity on our counter at the USE. Existing shareholders are encouraged to participate in the Rights Issue.
dfcu Limited also acknowledged the role of several advisors’ whose support has been critical to the success of the operation. These include; African Alliance (U) Limited, Sebalu & Lule Advocates, Ernst & Young and Deloitte Uganda. Also commended are the key regulator; the Capital Markets Authority and the Uganda Securities Exchange for their role in popularizing and supporting capital markets.
