KAMPALA, Oct 25 (Reuters) - Airtel Uganda said it has doubled the amount of bonus shares for potential investors, to boost participation in its initial public offering (IPO) set to close on Friday.
The firm launched its share sale on Aug. 29 and set the share price at 100 Ugandan shillings.
Airtel is selling 20% of its equity in a move aimed at raising 800 billion Ugandan shillings ($213 million).
Results of the IPO are expected on Oct. 30, while shares will be listed on the Uganda Securities Exchange on Oct. 31, according to a prospectus.
When the listing completes, Airtel Uganda will be the second listed telecoms company on Uganda's stock exchange after MTN Uganda (MTNU.UG), majority owned by South Africa's MTN Group (MTNJ.J), which listed in December 2021.
Persons:
Elias Biryabarema, Giulia Paravicini, Hereward Holland, David Evans
Organizations:
Airtel, Uganda Securities Exchange, MTN Uganda, South Africa's MTN, Thomson
Locations:
KAMPALA, Airtel Uganda