Cipla Quality Chemical industries Limited Opens Initial Public Offer at UGX 256.5 per share

Kampala. The Board of Directors of Cipla Quality Chemical Industries Limited (CiplaQCIL), a leading pharmaceutical manufacturing company in Sub Saharan Africa, are pleased to announce the opening of the Initial Public Offer starting today, Tuesday 14 August through Friday 24 August 2018.

“Our long term vision at CiplaQCIL is to become a center of excellence in the manufacturing of quality, affordable and newer medicines that improve the quantity and quality of life.

Our WHO pre-qualified products are approved by regulatory authorities in 19 countries, including: Uganda, Kenya, Rwanda, Tanzania, Namibia, Ivory Coast, Zambia, Zimbabwe, Malawi, Namibia, Mozambique, Ghana, Ethiopia, Angola and South Sudan among others.  CiplaQCIL is the only pharmaceutical manufacturer in Sub Saharan Africa supplying Malaria medicines to the Global Fund.” Nevin Bradford, the CEO of CiplaQCIL said,

“Today marks a great milestone at Cipla Quality Chemicals Industries Limited as we launch our Initial Public Offer and encourage and enable Ugandan investors to share in our success story after being under private ownership for over 13 years” The Executive Chairman of CiplaQCIL Emmanuel Katongole said,

Since our humble beginning 13 years ago, we have made a significant contribution to the effort to save lives by arresting the scourge of dreaded diseases, such as malaria, HIV/AIDS and hepatitis B. Importantly, as these diseases are particularly burdensome in Africa, we do this entirely from our state-of-the-art Kampala manufacturing plant, with zero tolerance for any compromise in quality.

In the last financial year alone, CiplaQCIL supplied HIV/AIDS medicines to approximately 500,000 HIV-infected people and Malaria drugs capable of treating approximately 45 million malaria infections. This in turn had a significant impact on the domestic economy in Uganda in terms of employment, investment, trade balance improvement, foreign exchange savings among others.

Joseph Kibuuka of Crested Capital, the Lead Sponsoring Stockbroker for the IPO said, “Interested investors may contact the Authorized Selling Agents and Members of the Uganda Securities Exchange or to visit any branch of Standard Chartered Bank to participate in the CiplaQCIL IPO.  Investors are encouraged to obtain a copy of the prospectus which provides further details about the Company and the IPO. We thank the timely efforts of the regulators in granting approvals and for providing a positive signal that Uganda’s capital markets are attractive to local, regional, and international investors.”

Transaction Advisors, Renaissance Capital is the Lead Transaction Advisor (LTA) and Crested Capital is the Lead Sponsoring Stock Broker (LSSB) to the Transaction.

Major International Certifications attained by CiplaQCIL

  • World Health Organization (WHO) Good Manufacturing Practices for plant and products
  • International Committee of Red Cross (ICRC)
  • Drugs for Neglected Diseases Initiative (DNDI)
  • Kenya Pharmacy and Poisons Board GMP
  • Tanzania Food and Drugs Administration (TFDA)
  • Uganda National Drug Authority (NDA)
  • Zambia Medicines Regulatory Authority (ZAMRA)
  • Namibia Medicines Regulatory Council (NMRC)
  • Ethiopia Food, Medicine and Healthcare Administration and Control Authority (FMHACA)
  • Ivory Coast Direction de la Pharmacie et du Medicament (DPM)
  • South Sudan General Medical Council (SSGMC)
  • Rwanda Biomedical Centre (RBC)
  • Angola National Directorate of Medicines and Equipment(DNME)

Awards received by CiplaQCIL

  • Africa award for entrepreneurship (Transformational Business of the year: 2012 winner)
  • Landmark Africa Private Equity Deal of the Decade (Private Equity Africa: 2012 Winner)
  • Outstanding Achievement in development of the Pharmaceutical sector (Ministry of Health: 2012 winner)
  • Investor of the Year (Uganda Investment Authority: 2007 Winner)

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