dfcu Limited (‘dfcu”) has informed its shareholders and the public that CDC Group PLC, a Development Finance Institution owned by the British Government, headquartered in London has sold all the 74,580,276 shares it held in dfcu to the Investment Fund for Developing Countries (“IFU”), a Development Finance Institution owned by the Danish Government.
“This sale is a completion of CDC’s divesture of its interests in dfcu following achievement of its investment horizon,” the statement issued by dfcu and Uganda Stock Exchange (USE) reads in part.
It adds: “As a founder shareholder of dfcu, CDC was committed to ensuring that any sale of its shares would be to an Institution with a strong and credible profile.”
According to the statement, IFU is an independent, government-owned fund which invests long term capital in growth opportunities in developing countries and emerging markets.
“IFU is also a fund manager of several other investment funds, including the Danish SDG Investment Fund. IFU managed funds have co-invested in close to 1300 companies in 100 countries in Africa, Asia, Latin America and parts of Europe. Committed investments total DKK 202 billion (approximately $30bn), of which IFU has contributed DKK 22 billion (approximately $3.2bn),” the statement reads, adding: ”IFU’s purchase of CDC’s shares is an indication of its confidence in dfcu’s strength and its commitment to dfcu’s long term growth.”
Shareholder Shares held in dfcu as at 19th December 2019 are as follows:
- Arise B.V. 439,176,097 shares- 58.70%
- SCB Mauritius A/C Investment Fund for Developing Countries 74,580,276 shares- 9.97%
- National Social Security Fund 55,803,416 shares- 7.46%
- Kimberlite Frontier Africa Naster Fund, L.P.-RCKM 54,958,626 shares- 7.35%
- SSB Russell Investment Company Plc Fund NAS5 14,428,700 shares-1.93%
- National Social Security Fund-Pinebridge 10,440,437 shares- 1.40%
- Vanderbilt University 7,359,482 shares- 0.98%
- SSB-Conrad N Hilton Foundation-00FG 7,255,064 shares-0.97%
- Jubilee Investment Company Limited 5,695,259 shares- 0.76%
- Bank of Uganda Staff Retirement Benefit Scheme AIG 4,481,491 shares-0.60%
- Others 73,965,185 shares- 9.89%