Multi-billion Kenyan supermarket chain, Uchumi Supermarket Limited that traded 9, 158 shares on its debut on the Uganda Securities Exchange (USE) on Nov. 13 has today fronted about 200,000 shares up for sale.
Analysts described the counter’s day’s activity as fair but promising going forward and after getting approval from the capital markets regulators, Uganda Securities Exchange has revealed that Uchumi is the first supermarket chain to mark list on Uganda’s bourse.
The cross-list gives Ugandan investors an opportunity to own stakes in one of Kenya’s leading retail stores, listed on the Nairobi Securities Exchange.
Uchumi entered the Ugandan market in 2002 and has so far established five operational branches in Uganda with the sixth branch planned for opening at the end of this month in Mbale municipality.
Uchumi becomes the 16th company to be listed on the USE and joins other Kenyan companies including Kenya Airways, East African Breweries, Kenya Commercial Bank, Equity Bank, Nation Media Group, Centum Investment Company, and Jubilee Holdings.
The company is implementing the cross-listing simultaneously in the Uganda Securities Exchange, Rwanda Securities Exchange, and the Dar-es-Salaam Stock Exchange.