Overview:
Airtel's IPO, in which the company offered to sell 20% shares, opened on 30th August 2023 and closes today, 27th October 2023 Allocation results will be announced on 06th November 2023.
KAMPALA – The National Social Security Fund (NSSF) Uganda has announced an investment of UGX 199 billion or10.55% into Airtel Uganda through its Initial Public Offering (IPO).
In a joint statement issued on Friday, October 27, 2023, NSSF Managing Director Patrick Ayota and Airtel Uganda Managing Director Manoj Murali said the investment is a testament of the Fund’s confidence in the telecom company.
‘The investment reflects the confidence that the NSSF has in the telecommunications sector, the prospects of the Company and the quality of its management team. The Fund’s investment in Airtel gives an opportunity for millions of NSSF members to own part of a successful company in a fast- growing sector known for innovative services,” a joint statement indicated.
“Through the NSSF, the biggest indigenous investor, millions of Ugandans will also be an important part of the telecommunications company’s growth journey. The NSSF and Airtel Uganda are committed to the development of the Ugandan Capital Markets, and promoting broad-based ownership of equities to enable investors to participate in the growth and development of the country,” the statement added.
Airtel’s IPO, in which the company offered to sell 20% shares, opened on 30th August 2023 and closes today, 27th October 2023 Allocation results will be announced on 06th November 2023.