Untu to raise $2m from market

UNTU Capital will raise another $2 million from the U-Gain medium term note instrument from the market shortly, following the success of its initial offering, which it says was oversubscribed by 72,45%.

Last month, Untu Capital introduced a $5 million Capital Medium Term Note called U-Gain, a debt instrument that the company offered the market to raise capital. Of the amount, the company made an initial offering of $1 million to the market, which the company reported on Monday as having been completed with an oversubscription of 72,45%

Speaking to NewsDay on the sidelines of the medium term bond listing on the Financial Securities Exchange (Finsec) on Monday in Harare, Untu Capital chief executive officer, Clive Msipha said they would be releasing the remaining $4 million in two tranches.

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