Airtel Uganda Doubles Bonus Shares ahead of IPO Close

Airtel Uganda said it has multiplied the amount of bonus shares for expected financial backers, to support cooperation in its first IPO set to close on Friday.

Extra offers will be multiplied for financial backers across all classes, Airtel said in an explanation gave late on Tuesday.

The firm sent off its share sale on Aug. 29 and set the offer cost at 100 Ugandan shillings. It had at first declared extra portions of different sizes going from 1-37 for various classes of financial backers.

Airtel is selling 20% of its value in a move pointed toward raising 800 billion Ugandan shillings ($213 million).

Consequences of the IPO are normal on Oct. 30, while offers will be recorded on the Uganda Protections Trade on Oct. 31, as indicated by an outline.

While the posting finishes, Airtel Uganda will be the second recorded telecoms organization on Uganda’s stock trade after MTN Uganda, greater part possessed by South Africa’s MTN Gathering, which recorded in December 2021.