Airtel Uganda lines up 20% stake for IPO

Airtel Uganda lines up 20% stake for IPO

Airtel Uganda has announced that it is set to make an initial public offering via the Uganda Securities Exchange (USE).

According to business outlet Shares, the mobile operator will make 8.0 billion shares available as part of the IPO, representing 20% of its overall shares.

In a statement, Airtel Africa said: “The offer is expected to result in meaningful local ownership of Airtel Uganda Ltd, with preference to be given to Ugandan investors, and to contribute to the development of the capital markets in Uganda.”

According to CommsUpdate, the listing will take place by 16th December 2023, as per the terms of Airtel Uganda’s licence. The operator was in fact due to list its shares by last December The operator was in fact due to list its shares by last December but was granted a 12-month reprieve, while its rival MTN Uganda completed its IPO in December 2021.

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