As a way to unlock the suspended trading at the NSE and enable the lifting of receivership, Uchumi is offering its current shareholders an opportunity to loan the supermarket chain loan with 10% annual interest that is also guaranteed by the government. The holder has an option to convert the loan and interest earned into shares at maturity or simply get paid. The minimum investment is Kshs. 3000.
This is definitely worth checking out to see if there is renewed investor confidence to warrant public purchase once the share is allowed to trade on the NSE.
Thursday, October 29, 2009
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