Cipla Quality Chemical Industries Limited (USE:CQCIL), a pharmaceutical manufacturing company, yesterday listed on the Ugandan bourse after its oversubscribed IPO, which raised 166.5 billion Ugandan shillings.

The company solds 657 million shares, equivalent to 18% of the firm’s total equity. Each share in the IPO was priced at 256.5 shillings.

Established in 2005, Cipla Quality Chemical Industries manufactures Anti-retroviral (ARVs), Artemisinin-based Combination Therapies (ACTs) and Hepatitis medicines to treat HIV/AIDS, Malaria and Hepatitis. The company is majority owned by India’s third-largest drugmaker Cipla.

After the first day of trading, the company’s share closed at 262 shillings, with 6,100 shares traded for a turnover of 1,599,000 shillings; And a market capitalization of 956,800 million shillings.

It is the seventeenth company to list on the ugandan bourse, and the first listing since 2012 when the country’s sole power distributor Umeme (USE:UMEM).