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Umeme shares suspended pending stake sale

Umeme Limited’s share gained 40.3 percent last week in trading at the Nairobi Securities Exchange (NSE). FILE PHOTO | NMG

Uganda power firm Umeme Limited said Tuesday it had suspended trade in its shares on the Nairobi and Kampala bourses pending sale of a major stake by a key shareholder.

Umeme Holdings Limited, which owns 60.08 per cent of the utility firm, plans to sell a significant stake of its shareholding via private placement, Umeme said in a statement.

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