Overview:
The Bonus issue has increased BOBU’s issued and fully paid up capital from Shs25b to Shs150b, improving their liquidity in shares at USE
Bank of Baroda Uganda Limited (BOBU) rang the bell to mark the issuance of bonus shares to its shareholders on Monday, 5th June 2023 at the Uganda Securities Exchange (USE) offices, Nakawa, Kampala.
This decision comes after USE and Capital Markets Authority Uganda approved the listing of an extra 12,500,000,000 ordinary shares with a par value of Shs 10.
The Bonus issue has increased BOBU’s issued and fully paid up capital from Shs25b to Shs150b, improving their liquidity in shares at USE and ensuring that the company continues to comply with regulatory requirements.
Paul Bwiso, the CEO at Uganda Securities Exchange Uganda, thanked and commended the management and board of BOBU for their foresight and utilization of the market to fulfill the new market requirements set by the Central Bank of Uganda, which necessitated an increase in their paid-up capital.
Robert Harvey Baldwin, the CEO of Crested Capital, acknowledged BOBU’s remarkable equity story and consistent performance, emphasizing the bank’s commitment to delivering value to its shareholders.
The MD, BOBU, Mr. Shashi Dhar said that the availability of bonus shares will enhance the number of the bank’s shares at the hands of retail and institutional shareholders which will encourage more Ugandans to invest for a better future and the bank’s growth.
The Chief Guest, Ag. High Commissioner of India to Uganda, Mr. Jitendr Singh Negi, expressed his delight at witnessing this momentous occasion. He congratulated the shareholders and expressed his satisfaction with BOBU’s significant contribution to Uganda’s economy since 1953.