Airtel Uganda disclosed its ambition of Eight Billion Shares on Uganda’s Security Exchange

By Abdul Rahman Bangura-

Photo Credit: IT News Africa

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- …exemplifying 20% of the corporation and the anticipated version of an offer document endorsed by the Capital Markets Authority of Uganda (CMA).

The proposal will be yielded by way of a bid sale by Bharti Airtel Uganda Holdings BV, eventually an entirely owned associate of Airtel Africa. Pursuing the culmination of the offer and upon agreement by the appropriate authorities, Airtel Uganda will apply for the admission of its issued share capital to the main investment market segment (MIMS) of the Uganda Security Exchange.

All revenue of the offer-related expenditures will accrue to Bharti Airtel Uganda as the selling shareholder. The offer lends preference to Ugandan investors comprising the corporation’s customers to own a share in Airtel Uganda and partake in its prospect advancement. In disclosing the offer in Kampala, Hannington Karuhanga – the Chairman of Airtel Uganda told, “Listing the company on the Uganda Security Exchange would reaffirm our commitment to the country and its future development in which we are playing a key role. The services we provide are core to the country’s economic success and prosperity. Importantly, an Initial Public Economic (IPO) will help to boost the economy and the people of Uganda to share in our mission and its success.”

Airtel Uganda is obliged to accept the listing of commitment by December 16th, 2023. Should the offer proceed with listings anticipated to contain key features like; a public offer as defined in the Capital Markets Authority Act cap 84 aimed at retail, institutional, and professional investors?

Thus, Airtel has designated Absa Bank Uganda Limited as the lead marketing consultant and Crested Stocks and Securities Limited as the forefront sponsoring broker, Sempebwa and Company Advocates as the legal adviser with Ernst and Young as reporting accountants.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent