Ugandan media company, New Vision, has succesfully raised new money and widened its shareholder base. It's Sh 1,100 discounted rights issue has been over-subscribed by sh1b. The company raised sh29.116b, a 4% over-subscription. In these markets, that is a vote of confidence.
New Vision now has the cash to transform itself into a formidable regional multi-media establishment. Proceeds from the rights issue will go towards the purchase of a high performance printing press, in addition to pre-press upgrades and various radio and television projects.
Dyer & Blair were the transaction advisers and lead sponsoring brokers. They were assisted by African Alliance, MBEA Brokerage and of course Renaissance Capital.
The Government’s shareholding in The New Vision is 53%.