Airtel Uganda Ltd. plans to lift as a lot as 800 billion shillings ($216 million) in an preliminary public providing, making it the nation’s greatest share sale.
The corporate priced its IPO at 100 shillings apiece valuing the nation’s second-biggest telecommunications provider at 4 trillion shillings. The unit of billionaire Sunil Mittal’s Airtel Africa Plc is promoting a 20% stake, or 8 billion shares, on the Uganda Securities Trade to satisfy a regulatory requirement.
The supply opens on Wednesday and closes on October 13, in response to a prospectus launched within the capital, Kampala, on Tuesday. The corporate will begin buying and selling on the alternate on Oct. 31.
Uganda has requested telecommunications corporations to promote at the least 20% on its bourse to extend native shareholding and deepen its capital markets. If Airtel Uganda reaches its IPO goal, it can turn into Uganda’s greatest firm by market worth.
MTN Uganda Ltd., which listed in 2021, is price 3.8 trillion shillings. Its IPO was under-subscribed and it raised $150 million, about two-thirds of the goal quantity. Its share has misplaced 15% from the 200 shilling supply worth.
Absa Financial institution Uganda Ltd. is the lead transaction adviser to the IPO, whereas Crested Capital is the lead sponsoring dealer.
The corporate priced its IPO at 100 shillings apiece valuing the nation’s second-biggest telecommunications provider at 4 trillion shillings. The unit of billionaire Sunil Mittal’s Airtel Africa Plc is promoting a 20% stake, or 8 billion shares, on the Uganda Securities Trade to satisfy a regulatory requirement.
The supply opens on Wednesday and closes on October 13, in response to a prospectus launched within the capital, Kampala, on Tuesday. The corporate will begin buying and selling on the alternate on Oct. 31.
Uganda has requested telecommunications corporations to promote at the least 20% on its bourse to extend native shareholding and deepen its capital markets. If Airtel Uganda reaches its IPO goal, it can turn into Uganda’s greatest firm by market worth.
MTN Uganda Ltd., which listed in 2021, is price 3.8 trillion shillings. Its IPO was under-subscribed and it raised $150 million, about two-thirds of the goal quantity. Its share has misplaced 15% from the 200 shilling supply worth.
Absa Financial institution Uganda Ltd. is the lead transaction adviser to the IPO, whereas Crested Capital is the lead sponsoring dealer.
