Sunil Mittal led Bharti Airtel’s, Airtel Uganda plans to float the country’s biggest IPO.
What Happened: The telecom provider on Tuesday announced its plans to float a $216 million (₹1,771.2 crore) IPO and also released its prospectus. The company plans to sell a 20% stake in the company to the public through the IPO.
As outlined in the prospectus, the primary goal of Airtel Uganda’s Initial Public Offering (IPO) is to create a reliable source of funding to support its ambitious expansion plans. This step will allow the company to secure capital for its future growth strategy.
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The outcome of the IPO for Airtel Uganda is set to be revealed on October 30th. Following this announcement, the company’s shares are scheduled to be officially listed on the Uganda Securities Exchange on October 31.
Once the process of listing Airtel Uganda on the stock exchange is completed, it will become the second telecom company to be publicly traded in Uganda, following MTN Uganda, which was listed in 2021.
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