Cipla sells shares, gets land from Ashanti King

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Asantehene visiting Cipla plant in Luzira

The Cipla Quality Chemicals Industries (CPLAQCi) IPO says its current shareholders will sell some of their stakes.

“Cipla to retain its majority stake even after IPO,” read a statement released Thursday.

The statement also said CIPLA plans an initial public offering and a listing on the Uganda African Securities Exchange (USE) with an 18% stake.

Renaissance Capital is acting as the lead transaction advisers while Crested Capital was appointed the lead sponsoring broker.

Ashanti king visiting the plant

 

This year, CiplaQCIL marked 10 years of providing access to quality affordable medicines.

CiplaQCIL marked this momentous occasion with a blood donation drive at the factory premises.

The blood donation drive brought together over 500 employees and 100 students from a community school, Bishop Cyprian Kihangire Secondary School in an atmosphere of celebration as they prepared to give blood through Uganda Blood Transfusion Services (UBTS).

Gets land for HIV drug factory

The Ashanti king, Otumfuo Nana Osei Tutu II, who came to Uganda to attend Kabaka of Buganda Ronald Muwenda Mutebi II’s coronation, has given land to one of Uganda’s top pharmaceutical firms to build a factory and manufacture HIV/Aids drugs in Ghana.

Otumfuo visited Cipla Chemicals plant in Luzira where he met CIPLA chemicals chief executive, Emmanuel Katongole.

“The Asantehene has accepted to provide us land in Ghana to set up a factory,” Katongole is quoted by Daily Monitor as saying.

According to its website, Cipla Quality Chemical Industries Limited manufactures anti-retroviral drugs (ARVs), Artemisinin-based Combination Therapies and Hepatitis drugs.

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