#PMLive: STOCK MARKET UPDATE
18 views · Published 5 September 2017 · 1:09 · Indexed 21 September 2026
Channel: URBAN TV UGANDA · 2017 · Education
Commercial bank DFCU is seeking to raise 200 billion shillings through rights offering to its shareholders. The move is aimed at raising money to pay off the debt amounting to 180 billion shillings that was acquired to pay off part of Assets and Liabilities of the now defunct Crane Bank. The Rights Issue is also aimed at boosting the capital base of the commercial bank and banker’s executives are optimistic that they will hit their target. The bank has over 263 million shares on offer and each will go for 760 shillings. DFCU’s Rights offering on the Uganda Securities Exchange will last for a period of three weeks starting today and the company's existing shareholders will buy additional shares directly from the company in proportion to their existing holdings, within this fixed time period.
