Telecommunication firm, Airtel Uganda says it had set the price for its initial public offering at Shs100 a share, ahead of its listing on the Uganda stock market exchange in early October this year.
Airtel Uganda’s managing director, Mr. Manoj Murali says the company is offering 8 billion shares worth Shs800 billion.
He says the company aims to raise Shs800 billion by selling a 20% stake to drive its expansion plans.
“Airtel has established itself as the most innovative cellular mobile network operator in Uganda by introducing many firsts in the country’s telecommunication market. The Initial Public Offer will see eight billion shares existing ordinary shares of the company making 20% of the company made available and it will be a value of shs800 billion,” Murali said.
When the listing is completed, Airtel Uganda will be the second listed telecoms company on Uganda’s stock market exchange after MTN Uganda, majority-owned by South Africa’s MTN Group, which was listed in December 2021.
Airtel Uganda is a unit of India’s Bharti Airtel.
