• About
  • Contact
Sunday, May 11, 2025
  • Login
No Result
View All Result
NEWSLETTER
Now Then Digital
23 °c
Kampala
22 ° Fri
23 ° Sat
23 ° Sun
22 ° Mon
  • HOME
  • NEWS
  • POLITICS
  • BUSINESS
  • TECH
  • ENTERTAINMENT
  • LIFESTYLE
  • TIPS & ADVICE
  • HOME
  • NEWS
  • POLITICS
  • BUSINESS
  • TECH
  • ENTERTAINMENT
  • LIFESTYLE
  • TIPS & ADVICE
No Result
View All Result
Now Then Digital
No Result
View All Result
ADVERTISEMENT
Home Business

Airtel Uganda Sets Share Price at Shs100 for IPO

Airtel Uganda's IPO is expected to increase the Uganda Securities Exchange's total market capitalization from about Shs7.2 trillion to about Shs11.2 trillion.

Now Then Digital by Now Then Digital
August 29, 2023
in Business, News, Uganda
Reading Time: 3 mins read
1 0
A A
0
Airtel Uganda Sets Share Price at Shs100 for IPO

Airtel Uganda's Managing Director, Manoj Murali.

0
SHARES
14
VIEWS
Share on FacebookShare on Twitter

Airtel Uganda, a telecom company, has set the price of its shares for the initial public offering (IPO) at Shs100 each as it prepares to list on the Uganda Securities Exchange.

KAMPALA, UGANDA | NOW THEN DIGITAL — Airtel Uganda, the telecom company, has set the share price for its initial public offering (IPO) at Shs100 per share as it prepares to list on the Uganda Securities Exchange.

Airtel Uganda, a unit of India’s Bharti Airtel, is set to become the second listed telecoms company on Uganda’s stock market exchange after MTN Uganda’s listing in December 2021.

Airtel Uganda will be the second listed telecoms company on stock market exchange
The IPO officially opened and will close on October 13, 2023, at 4 pm.

This announcement came from Airtel Uganda’s Managing Director, Manoj Murali, during an event at Sheraton Hotel in Kampala.

“Airtel has established itself as the most innovative cellular mobile network operator in Uganda by introducing many firsts in the country’s telecommunication market. The Initial Public Offer will see eight billion shares existing ordinary shares of the company making 20% of the company made available and it will be a value of shs800 billion,” Airtel Uganda, MD Manoj Murali said.

“The IPO shows our commitment to support Uganda’s stock market. It also gives confidence to Ugandan investors including company customers to own a share in the company and participate in our future growth story. We believe this IPO will enhance Airtel Uganda’s profile across the continent,” Mr. Murali added.

The IPO will involve the issuance of eight billion existing ordinary shares, representing 20% of the company’s value at Shs800 billion.

Airtel Uganda claims a 49% market share and 13.8 million active subscribers in 146 districts across Uganda, fulfilling the requirements of the National Telecommunications Operator (NTO) license.

Unlike its rival, MTN Uganda, which completed its share listing in 2021, Airtel was granted a 12-month extension to meet the listing deadline after initially missing it in December.

Youmight also like

Ugandan Army Chief Muhoozi Admits Detaining Bobi Wine Bodyguard

Eddie Mutwe Held by Military, Uganda’s Top General Muhoozi Confirms

May 3, 2025
Starlink Eyes East African Expansion with Potential Uganda Launch

Uganda Eyes Satellite Internet Boost as President Museveni Meets Starlink Team

April 29, 2025
Uganda’s Jacob Kiplimo shines with record-breaking marathon debut in London

Uganda’s Jacob Kiplimo shines with record-breaking marathon debut in London

April 28, 2025
Uganda: Latest Ebola outbreak officially over, says health ministry

Uganda: Latest Ebola outbreak officially over, says health ministry

April 26, 2025

This IPO is viewed as a commitment to support Uganda’s stock market and an opportunity for Ugandan investors, including customers, to own a share in the company.

The IPO is officially open and will close on October 13, 2023, at 4 p.m., according to Hannington Karuhanga, Airtel Uganda’s board chairperson.

ADVERTISEMENT

Keith Kalyegira, the CEO of the Capital Markets Authority, hailed this development as a significant milestone, estimating that the Uganda Securities Exchange’s total market capitalization would rise from about Shs7.2 trillion to Shs11.2 trillion.

“With 20% of its shares being issued, the total market capitalization on the Uganda Securities Exchange will increase from about shs7.2 trillion to about shs11.2 trillion. This means we have crossed the shs10 trillion mark for the first time in our history,” Kalyegira said.

“As the regulator, we expect to continue operating with the highest standards of corporate governance and with utmost dedication.” he added.

Absa Bank Uganda is the lead transaction advisor for the IPO, and Crested Stocks and Securities Limited serves as the lead sponsoring broker.

“Absa is honoured to be part of this IPO journey in Uganda offering our financial expertise, advisory and support as the lead transaction advisor. This IPO demonstrates Airtel’s commitment to this market by listing and issuing shares to the public. It is a vote of confidence in Uganda’s capital market,” Absa bank Uganda Managing Director, Mumba Kalifungwa said.

Airtel Uganda, which started as Celtel Uganda in 1995, became the country’s first mobile cellular network. As of December 31, 2022, the company reported revenues of Shs1.59 trillion, EBITDA of Shs888 billion, and net income of Shs326 billion.

Upon completion of the listing, Airtel Uganda will be the second listed telecom company on Uganda’s stock market exchange, following MTN Uganda, which is majority-owned by South Africa’s MTN Group and was listed in December 2021. Airtel Uganda is a unit of India’s Bharti Airtel.

Editor’s Note: If you come across any inaccurate or outdated content, kindly reach out to us at press@nowthendigital.com for immediate assistance.

Source: Now Then Digital
ADVERTISEMENT
Now Then Digital

Now Then Digital

Now Then Digital offers breaking news and opinion articles, giving you a unique opportunity to see what goes on behind the scenes in Uganda, Kenya, Nigeria, South Africa and elsewhere.

Recommended For You

Ugandan Army Chief Muhoozi Admits Detaining Bobi Wine Bodyguard
Politics

Eddie Mutwe Held by Military, Uganda’s Top General Muhoozi Confirms

by Wafula Steven
May 3, 2025
Starlink Eyes East African Expansion with Potential Uganda Launch
News

Uganda Eyes Satellite Internet Boost as President Museveni Meets Starlink Team

by Wafula Steven
April 29, 2025
Uganda’s Jacob Kiplimo shines with record-breaking marathon debut in London
Sports

Uganda’s Jacob Kiplimo shines with record-breaking marathon debut in London

by Now Then Digital
April 28, 2025
Uganda: Latest Ebola outbreak officially over, says health ministry
Health

Uganda: Latest Ebola outbreak officially over, says health ministry

by Wafula Steven
April 26, 2025
ADVERTISEMENT

Related Articles

burna boy all africa music awards 2022 winners

Here Are All the Winners of the All Africa Music Awards for 2022/2023

2 years ago
Isma Olaxess murder

Isma Olaxess: Speaker of Parliament Condemns Blogger’s Murder

2 years ago
Bella Hadid's Struggle with Lyme Disease

Bella Hadid’s Battle with Lyme Disease: What You Need to Know

2 years ago

Popular News

  • Anna Maria von Stockhausen Accused Victim of Superstition

    Who Was Anna Maria von Stockhausen: A Victim of Witch-Hunts in the 18th Century

    0 shares
    Share 0 Tweet 0
  • BRICS Group Expands: Six New Member Nations Welcomed

    0 shares
    Share 0 Tweet 0
  • Key Tips to Identify Fake X Accounts Amid Growing Misinformation

    0 shares
    Share 0 Tweet 0
  • Symptoms and Treatment of Pernicious Anemia Tongue

    0 shares
    Share 0 Tweet 0
  • A Quick Guide to Manda Mobile Uganda: What You Need to Know

    0 shares
    Share 0 Tweet 0

Connect With Us

Join our Newsletter

Who We Are

Now Then Digital | Breaking News from Uganda & Africa

Latest headlines from Uganda, Africa & the world. Explore politics, entertainment, sports, finance & more on Now Then Digital.

Sign Up For Our Newsletter

Now On Pinterest

Rema Afrobeats Award At 2023 MTV VMAs

Rema and Selena Gomez Make History: First Afrobeats Award at 2023 MTV VMAs

upc candidate (1)

Sarah Aguti Wins Dokolo District Woman MP By-Election Landslide Victory

From Our Partners

  • Editorial Policy
  • Disclaimer
  • Corrections Policy
  • Fact-Checking Policy
  • DMCA Policy

© 2025 Now Then Digital - Breaking News from Uganda, Kenya, Nigeria & South Africa.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
    • Movies
    • Music
    • Sports
  • Lifestyle
    • Fashion
    • Travel
    • Tech
  • Health
  • Food

© 2025 Now Then Digital - Breaking News from Uganda, Kenya, Nigeria & South Africa.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.