Overview:
To comply with Uganda's broadband policy, Airtel Uganda aims to list at least 20% of its equity on the local exchange by November 2026.
Airtel Uganda, a subsidiary of Bharti Airtel, has announced plans to sell remaining shares from its initial public offering (IPO) to meet regulatory requirements.
The company’s IPO last year raised 432 billion Ugandan shillings ($116.64 million), falling short of its 800 billion shillings target.
To comply with Uganda’s broadband policy, Airtel Uganda aims to list at least 20% of its equity on the local exchange by November 2026.
“We are committed to meeting the regulatory requirements within the given timeframe,” said David Birungi, Airtel Uganda’s spokesperson.
This move follows MTN Uganda’s secondary market sale of leftover shares from its 2021 IPO.
Airtel Uganda is Uganda’s second-largest telecom operator, after MTN Uganda.