Airtel Uganda says its IPO undersubscribed

Date:

- Advertisement -

Airtel Uganda said on Monday its initial public offering got a 54.45% subscription rate for the 800 billion Ugandan shillings ($213 million) worth of shares offered for sale.

The firm launched its share sale on Aug. 29 and set the share price at 100 Ugandan shillings, to offload a 20% stake.

It received offers to buy 4.36 billion shares out of the 8 billion shares that were up for sale, raising 211.43 billion shillings, it said in a statement.

Airtel Uganda’s shares are due to be listed on the Uganda Securities Exchange on Nov. 7.

When the listing completes, Airtel Uganda will be the second listed telecoms company on Uganda’s stock exchange after MTN Uganda, majority owned by South Africa’s MTN Group, which listed in December 2021.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

ADVERTISEMENT

Popular

More like this
Related

IMF predicts global public debt will be at 93% of GDP by end of 2024

Global public debt will exceed US$100 trillion by the...

World Bank’s Banga says more bilateral debt forgiveness needed

World Bank President Ajay Banga said on Thursday (17...

Ghana, creditor panel agree on debt restructuring, paving way for IMF cash

Ghana has finalised a pact with its official creditor...

Nigeria strikes deal with Shell to supply $3.8 billion methanol project

Nigeria has struck a deal for Shell (SHEL.L), opens new...