NIC Uganda Wants Regional Cross-Listing

National Insurance Corporation (NIC), one of Uganda’s oldest companies in the industry, plans to cross-list its shares across East Africa.

Speaking during their 13th AGM in Kampala, Board Chairman, Dr. Aliker said: “The cross-listing of the shares will lead to better visibility, improved competitive edge in the regional markets, increased share liquidity, better price discovery, access to a wider pool of both sophisticated and retail investors, and better prospects of raising capital.”

The NIC Shareholders’ Fund grew from Ush24.123 billion (around $9 million) recorded in 2011 to Ush26.611 billion ($9.9 million) in 2013.

He expressed appreciation to NIC customers and the hard work shown by management and staff.

Source : East African Business Week