Cipla Quality Chemical Industries Limited said on August 2, 2018 that it plans an initial public offering and a listing on the East African country’s stock exchange. The company said each of its shareholders would be “selling a minority of their stakes” in the IPO and that the transaction and potential listing had received regulatory approvals. The firm said as part of its growth strategy, it “has been evaluating an initial public offering and listing of its issued share capital on Uganda Securities Exchange”. Cipla, according to a statement, will still maintain a majority stake even after the IPO but the firm did not state how much equity would be offered for sale in the IPO.