Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

UAP Holdings Sh2bn bond starts trading

NSENAIROBI, Kenya, Aug 29 – UAP Holdings Sh2 billion bond has on Friday started trading at the Nairobi Securities Exchange (NSE) on the Fixed Income Securities Market Segment.

The medium term note that was launched in early July targeting institutional and retail high net-worth investors received offers of Sh3.2billion representing a 59.6 percent oversubscription.

Institutional investors received 89.4 percent of the issue, while retail investors received the remaining 10.6 percent balance of the note.

UAP Group Managing Director, Dominic Kiarie said the corporate bond provides UAP Group with additional funds for business diversification in line with UAP’s Pan-African growth strategy, centering on the creation of significant long-term value to UAP investors.

He further added that the group has already started deploying the proceeds to create capacity for growth and expansion of UAP businesses across the region.

The proceeds expected to be used for general corporate purposes including capital management, funding long term property assets and investments in its subsidiaries.

Recently, UAP launched its newest subsidiary, UAP Investments Limited that received Fund Management licenses from both the Capital Market Authority (CMA) and the Retirement Benefits Authority (RBA), to commence operations of their Asset Management and Investments Advisory business in Kenya.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...