Airtel Uganda will sell 20% stake in an IPO ๐Ÿ‡บ๐Ÿ‡ฌ

Airtel Uganda will sell 20% stake in an IPO ๐Ÿ‡บ๐Ÿ‡ฌ

Airtel Africa has announced its plans to list on the Uganda Securities Exchange with 8,000,000,000 worth of shares. According to a statement published on the Nigerian Exchange Group (NGX), Airtel Africa has announced plans to list shares on the Uganda Securities Exchange. It will do this through its wholly owned subsidiary in Uganda, Airtel Uganda Limited.

Airtel Africa has revealed its intention to list on the Uganda Securities Exchange, offering 8 billion shares worth $8 billion through its subsidiary Airtel Uganda Limited. This move aligns with Uganda's requirement for a minimum 20% stake to be listed on the stock exchange. Airtel aims to increase local ownership and participation in the listing, prioritizing Ugandan investors. The shares will be offered by Bharti Airtel Uganda Holdings B.V., a subsidiary of Airtel Africa, and will be accessible through Airtel Money's platform and traditional channels. The IPO is contingent on regulatory approvals, and Absa Bank Uganda Limited, Crested Capital, Katende Ssempebwa and Company Advocates, and EY are among the appointed advisors. Airtel's move in Uganda is seen as a strategic move to compete with fellow telecom giant MTN and expand its market presence.

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