Cipla Quality Chemical Industries Limited (CiplaQCIL), a leading pharmaceutical manufacturing company in Uganda, will soon announce an initial public offer by offering its shares to the public for the first time. Renaissance Capital has been appointed as the lead transaction advisor (LTA) and Crested Capital as the lead sponsoring stock broker (LSSB) to the transaction.
CiplaQCIL is a state-of-the-art pharmaceutical plant approved by the World Health Organisation which has been in existence for 10 years in Uganda and currently manufactures the latest anti-retroviral (ARVs), artemisinin-based combination therapies (ACTs) and hepatitis medicines to treat HIV/AIDS, malaria and hepatitis.
Commenting on the IPO, Executive Chairman CiplaQCIL Emmanuel Katongole said, "CiplaQCIL will soon announce an initial public offer that gives a section of the public a stake in the company, hence becoming part of the force providing a solution to diseases that afflict Uganda and Africa at large. CiplaQCIL has had 10 years of providing affordable medicines to both public and private facilities in Uganda where last year alone, we manufactured malaria medicines and ARVs that treated over 40 million people and 400,000 patients respectively in Uganda.
"Having CiplaQCIL list on Uganda’s security exchange is not only in fulfillment of our commitment to the Government of Uganda but also in line with our vision to become a centre of excellence in the manufacturing of quality, affordable and newer medicines which in turn helps improve the quantity and quality of life both in Uganda and Africa at large."
Paul Bwiso, Chief Executive Officer Uganda Securities Exchange, the principal stock exchange in Uganda, said, "The CiplaQCIL IPO details will be announced soon to the general public to include the transaction timetable, number of shares on offer, share price, percentage of shares allocated to individuals, and institutional investors. It is exciting for us because the last time we had an IPO in the market was in 2012."
Mr Katongole concluded by calling upon the general public, both individuals and institutional investors to look out for the official CiplaQCIL IPO announcement that is happening soon.