Airtel Uganda to raise $216 million via IPO

Airtel Uganda is planning to raise $ 216 million through a 20 per cent stake sale in an initial public offering (IPO). The telco aims to utilise the proceeds from the fund-raise to accelerate the company’s expansion in the country. The goal of the IPO is to create a source of future capital to support Airtel Uganda’s aggressive expansion strategy.

The Airtel Uganda IPO opens on August 30, 2023, and closes on October 13, 2023. However, the Uganda Securities Exchange (USE) will list the company’s shares on October 31, 2023.