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Airtel Uganda to roll out $216 million IPO

Mint Mumbai

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August 30, 2023

Billionaire Sunil Mittal backed telecom services provider Airtel Uganda Ltd, a subsidiary of Airtel Africa plc, plans to raise 800 billion Ugandan shillings or $216 million in an initial public offering (IPO), it said in a statement Tuesday.

- Mayur Bhalerao & Gulveen Aulakh

Airtel Uganda to roll out $216 million IPO

The company set the price for its initial public offering (IPO) at 100 Ugandan shillings (UGX) apiece, and will offer up to 20% stake or 8 billion shares, the company told the Uganda Securities Exchange. The IPO also fulfills regulatory requirements under which the company has to mandatorily. list by 16 December.

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