Overview:
Robert Baldwin, the CEO of Crested Capital, the Airtel lead broker, advised Ugandans to read and study the prospectus document, a formal document that provides detailed information about a company that is publicly issuing securities, such as stocks or shares, for more knowledge about the shares.
Airtel Uganda on Tuesday, August 29, 2023, opened its public issue, offering up to 8 billion existing ordinary shares of the company – representing up to 20 percent of the company – to the public.
Speaking at the function, Airtel Managing Director Manoj Murali said they have set the price for its Initial Public Offering (IPO) at UGX 100, which will be available for the public to purchase up to October 13.
The IPO also fulfils regulatory requirements under which the company has to mandatorily list by 16 December 2023.
“So in an Airtel IPO, Airtel Uganda transitions from being privately owned by a relatively small number of investors to having its ownership distributed among a larger group of shareholders, including individual and institutional investors,” Murali explained.
“The IPO gives preference to Ugandan investors, including the Company’s customers, to own a share in Airtel Uganda and participate in its future growth. This is very much in line with one of our core values of customer-centricity,” he added.
The Airtel Uganda Managing Director said each ordinary share shall be UGX100 only and the minimum application must be at least 2,500 shares. The minimum subscription amount is, therefore, UGX 250,000.
Speaking at the function, Robert Baldwin, the CEO of Crested Capital, the Airtel lead broker, advised Ugandans to read and study the prospectus document, a formal document that provides detailed information about a company that is publicly issuing securities, such as stocks or shares, for more knowledge about the shares.
“Reach out and talk to stockbrokers to help you understand the prospectus. The prospectus serves as a comprehensive source of information for potential investors, enabling them to make informed decisions about whether to invest in a company,” Mr Baldwin said.
How to buy Airtel shares
- One needs to go to Airtel money
- Dial *185*85#
- Select option 2,“Airtel IPO purchase”
- Enter valid NIN
- Input number of shares to apply for
- Select broker
- Enter PIN to confirm application
- Then after, you will receive an SMS confirming receipt of application and details
How to open an SCD Account:
- Using Airtel Money, dial *185*85#
- Select option 1, “Apply for SCD Account”
- Enter valid NIN and follow the prompts