Silvia Nyambura
The National Insurance Corporation (NIC) is bound to increase its asset base following the listing of its Rights shares on the Uganda Stock Exchange (USE) as of Friday 17th January 2014 opening at a price of Ushs 35. This marks a 9 shilling increase from the discounted buying price of Ushs 26 translating into a 33 percent profit for shareholders who may want to sell at the moment. According to NIC MD Bayo Folayan, the company’s half year results for 2013 indicate NIC is worth Ushs 80 billion with a net asset base of Ushs 24 billion. “These results do not take into account the additional capital generated from the just concluded rights issue,
