| |
1. Client: East
African Breweries Limited – EABL (2000–2001)
Transaction: The issue and listing
of an additional 799,520 ESOP ordinary shares of EABL
on the Uganda Securities Exchange (USE). The Company’s
primary listing was on the Nairobi Stock Exchange (NSE)
in 1972. East African Breweries Limited (EABL) is the
group holding company for the largest brewing concern
in East Africa with operations in Kenya (100% of Kenya
Breweries Limited), Uganda (97% of Uganda Breweries
Limited) and Tanzania (86% of Kibo Breweries Limited).
In addition to brewing interests, EABL wholly owns Central
Glass Industries Limited, a glass manufacturing plant
and Kenya Malting Limited, the only malt processing
facility in East Africa.
Role: Sponsoring Broker.
Status: Transaction completed.
2. Client: East African Breweries Limited – EABL
(2004)
Transaction: The
issue and listing of an additional 21,965,954 bonus
ordinary shares of EABL on the Uganda Securities Exchange
(USE). The Company’s primary listing was on the
Nairobi Stock Exchange (NSE) in 1972. East African Breweries
Limited (EABL) is the group holding company for the
largest brewing concern in East Africa with operations
in Kenya (100% of Kenya Breweries Limited), Uganda (97%
of Uganda Breweries Limited) and Tanzania (86% of Kibo
Breweries Limited). In addition to brewing interests,
EABL wholly owns Central Glass Industries Limited, a
glass manufacturing plant and Kenya Malting Limited,
the only malt processing facility in East Africa.
Role: Sponsoring Broker.
Status: Transaction completed.
3. Client: Government of
Uganda / New vision Printing and Publishing Company
Limited – NVPPCL (2004)
Transaction: The divestiture of the Government of Uganda’s 20% shareholding in New Vision Printing and Publishing Company Limited (NVPPCL) under the Government’s Divestiture Programme, through an initial public offering (IPO) and listing of the company on the Uganda Securities Exchange. NVPPCL is the leading newspaper, printer and publisher in Uganda.
Role: Lead Advisor / Sponsoring Broker.
Status: Transaction completed.
The IPO was 30.4% oversubscribed and NVPPCL shares commenced
trading on the USE in December 2004.
4. Client: Government of Uganda
/DFCU Limited – DFCU (2003-2004)
Transaction: The divestiture of the Government of Uganda’s 18.5% shareholding in DFCU Limited (DFCU) under the Government’s Divestiture Programme, through an initial public offering (IPO) and listing of the company on the Uganda Securities Exchange. DFCU is one of the largest financial services Group in Uganda, specializing in commercial banking, leasing, mortgage finance and term finance.
Role: Lead Advisor / Sponsoring Broker.
Status: Transaction completed.
The IPO was 1.1% oversubscribed and DFCU shares commenced
trading on the USE in October 2004.
5. Client: Uganda Telecom Limited - UTL (2003-2004)
Transaction: A Ushs.54 Billion Medium Term Note (MTN) programme listed on the USE. UTL is the first national telecommunications operators (FNO) in Uganda.
Role: Sponsoring Broker.
Status: On-going – The Programme was launched in July 2003 with the issue of the first (1st) Tranche of Notes worth Ushs.24 Billion. A balance of Ushs.30 Billion remains outstanding to be issued before 30 June 2004. The Bond was listed on the USE in September 2003 and matures in July 2008.
6. Client: MTN Uganda Limited
(2000–2002)
Transaction: A Ushs.12.50 billion (approximately US$8 million equivalent) note issuance programme to be listed on the USE. MTN Uganda Limited is the second national telecommunications operator (SNO) in Uganda.
Role: Co-Advisor & Sponsoring Broker.
Status: On-going – The Programme was launched in August 2001, with the issue of the first (1st) Tranche of Notes worth Ushs.5 Billion. The second (2nd) Tranche of Notes worth Ushs.2.5 billion was issued in November 2001 and the third (3rd) Tranche of Notes worth Ushs.2 Billion was issued in December 2001. MTN will continue to issue additional tranches, as and when it requires the capital, over an 8-year period from August 2001, so long as the amount of Notes outstanding at any one time does not exceed Ushs.12.50 Billion. The Notes under the Programme shall eventually be listed on the USE.
7 . Client: Government of Uganda/Dairy Corporation Limited
– DCL (2002)
Transaction: The divestiture of the Government of Uganda’s 100% shareholding in Dairy Corporation Limited (DCL) under the Government’s Divestiture Programme, through a sale to a strategic investor followed by an Initial Public Offering (IPO) and listing of the company on the USE. DCL is the country’s leading processor of milk and other dairy products.
Role: Lead Transaction Advisor / Sponsoring Broker
Status: On-going
8 . Client: Government of Uganda/Kinyara Sugar Works
Limited – KSWL (2002)
Transaction: The divestiture of the Government of Uganda’s 100% shareholding in Kinyara Sugar Works Limited (KSWL) under the Government’s Divestiture Programme, through an Initial Public Offering (IPO) and listing of the company on the USE. KSWL is a sugar grower, processor and manufacturer.
Role: Sponsoring Broker
Status: On-going
9. Client: Bank of Baroda (Uganda) Limited (2002)
Transaction: The Initial Public Offering (IPO) of Bank of Baroda shares and the listing of the Bank on the Uganda Securities Exchange (USE). The Government of Uganda previously owned 49% of the equity of Bank of Baroda Uganda, while Bank of Baroda India owned 51%. In June 1999, the Government of Uganda sold its stake back to Bank of Baroda India, with a commitment from Bank of Baroda India to sell 20% of the Bank’s equity to the Ugandan public through the USE within 3 years of the agreement.
Role: Co-Advisor / Lead Sponsoring Broker.
Results Achieved: Transaction completed.
The IPO was 116.7% subscribed and Baroda shares commenced
trading on the USE in November 2002.
10 . Client: Kenya Airways Limited – KA (2001–2002)
Transaction: A cross listing of the
Company’s shares on the USE. The Company was first
listed on the Nairobi Stock Exchange (NSE) in 1996.
Kenya Airways (KA) is a leading African airline owned
by KLM Royal Dutch Airlines (26%) and the Government
of Kenya (23%). The balance is held by institutional
investors, the Kenyan and foreign public and employees.
KA’s subsidiaries and % shareholdings are: Flamingo
Airlines Ltd (100%), Kenya Airfreight Handling Ltd (100%),
African Cargo Handling Ltd (100%) and Kencargo Airlines
International Ltd (60%).
Role: Sponsoring Broker.
Status: Transaction completed.
KA shares commenced trading on the USE in March 2002.
11. Client: Pan Africa Insurance Company of
Uganda Limited (2001)
Transaction: The proposed acquisition
of Pan Africa Insurance Company of Uganda Limited by
Pan Africa Insurance Company Limited, Kenya, which is
a company listed on the Nairobi Stock Exchange.
Role: Lead Advisor to Pan Africa Insurance
Company of Uganda Limited.
Status: Pan Africa Insurance Company
of Uganda Limited decided not to proceed with the acquisition.
12 . Client: Government of Uganda/British American
Tobacco Uganda Limited– BATU (2000)
Transaction: The divestiture of the
Government of Uganda’s shareholding in British
American Tobacco Uganda Limited (BAT Uganda) under the
Government’s Divestiture Programme, through an
IPO and listing of the Company on the USE. BATU is the
country’s leading cigarette manufacturer and exporter
of tobacco leaf.
Role: Joint Lead Advisor / Lead &
Sponsoring Broker.
Status: Transaction completed.
The IPO was 105% subscribed and BATU shares commenced
trading on the USE in October 2000.
13 . Client: Government of
Uganda/Uganda Clays Limited-UCL (1999-2000)
Transaction: The divestiture of the
Government of Uganda’s shareholding in Uganda
Clays Limited (UCL) under the Government’s Divestiture
Programme, through an IPO and listing of the Company
on the USE. UCL is the country’s leading supplier
of building clay products in the housing and construction
industry. Its main business is the production and sale
of roofing tiles, walling materials and decorative clay
products.
Role: Lead Advisor / Lead & Sponsoring
Broker.
Status: Transaction completed.
The IPO was 115% subscribed and UCL shares commenced
trading on the USE in January 2000.
14. Client: Private Sector Foundation –
PSF (1999)
Transaction: Mandated to represent
the Private Sector Foundation (PSF) during the World
Bank mid-term review of the PSF’s effort to establish
an Equity Fund in Uganda. The PSF is a policy advocacy
institution comprised of over 40 business associations
from public sector that supports the private sector,
established in 1995 to implement the private sector
competitiveness project funded by the World Bank through
the Government of Uganda. It provides for discussion
of policy issues and their impact on the private sector.
Through this, the PSF seeks to strengthen and institutionalize
the partnership between Government, the private sector
and Uganda's development partners.
Role: Financial Advisor.
Status: Assignment completed.
Decision was made to defer establishment of the Equity
Fund while embarking on a capacity building programme
for the potential stakeholders.
15 . Client: Eastern and Southern African Development
Bank – PTA Bank (1999)
Transaction: Trading of the Ushs. 8.36
Billion Eastern and Southern African Trade and Development
Bank (PTA Bank) Bond Issue, which was listed on the
USE in March 1999. PTA Bank is a multilateral development
bank that serves as the financial vehicle of the Common
Market for Eastern and Southern Africa - COMESA.
Role: Market Maker in the trading of
the PTA Bank Bonds.
Status: Transaction completed.
The Bond matured in March 2004.
16. Client: East African Development
Bank - EADB (1998)
Transaction: Ushs. 10 Billion East African Development Bank (EADB) Bond Issue. EADB is a multilateral development bank headquartered in Uganda and serving the 3 East African Countries of Kenya, Uganda and Tanzania.
Role: Sponsoring Broker.
Status: Transaction completed. The issue was fully subscribed and the bonds commenced being traded on the USE in January 1998. The Bond matured in December 2001.
MBEA Brokerage Services has in-depth knowledge and understanding of Uganda's new and developing capital market and is committed to encouraging the growth of corporate finance/financial advisory services and both equity and debt finance as credible sources of capital, growth and development.
|
|
