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Uganda’s National Social Security Fund (NSSF) is to acquire 10.55% of the total shares outstanding of Airtel shares in the ongoing Initial Public Offering (IPO) for a consideration of UGX199 billion (USD53 million), the two entities have announced. ‘The investment reflects the confidence that the NSSF has in the telecommunications sector, the prospects of the Company and the quality of its management team. The Fund’s investment in Airtel gives an opportunity for millions of NSSF members to own part of a successful company in a fast-growing sector known for innovative services,” NSSF’s Managing Director, Patrick Ayota and AIrtel’s Manoj Murali…
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With three days left to the closure of the Airtel IPO, the telco has today announced that it is sweetening it is further sweetening its incentivisation structure, a move, the company says is to encourage more local participation. “In order to encourage participation in the IPO and promote allocation to Ugandan investors, the Board of Directors has proposed a substantial enhancement of the incentive structure,” the company said in today’s public statement. Under the revised structure, retail investors applying for between 2,500 and 18.5 million shares, who were under the old bonus scheme supposed to get 5 Incentive Shares…
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Having laid a strong foundation, the company is now looking to its next phase of growth built on a strong purpose⏤ transforming lives, using pioneering technology that ensures increased reach and penetration, as an enabler. To lead this customer-centric vision and ensure brilliant execution in the marketplace, Manoj Murali, the man leading that next phase of growth has assembled a team of 12 experts, each of whom is an expert in their respective fields. To deliver Airtel’s “winning with people agenda” of being the employer of choice with a diverse and inclusive high-performance work environment, each of these 12 leaders…
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The sale of Airtel Uganda’s 20% shares in what is now Uganda’s second-biggest initial Public Offering (IPO) closes this Friday, October 13th 2023. If you haven’t yet bought shares in the telco, which is now Uganda’s fastest-growing telco for the last 10 years, you have just 2 days to go. Many an analyst and investment banks such as Old Mutual Investment Group, Dyer and Blair as well as investors like Dr. Sudhir Ruparelia have given the IPO a good “buy” rating citing the telco’s past above-industry growth as well as positive industry projections, make the Airtel IPO a compelling…
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The Buganda Kingdom has applied to buy 2,000,000 Airtel Uganda shares, worth UGX200 million in the ongoing Airtel Initial Public Offering. This was revealed at a press conference held on the 26th of September 2023 at the Kingdom’s Bulange, Mmengo offices, where the Kingdom’s Prime Katikiro (Prime Minister) Owek. Charles Peter Mayiga, took the opportunity to encourage the public to embrace the #AirtelIPO, saying, IPO investments in well-run and regulated businesses such as telcos, are smart investments. “Be a smart investor, acquire shares in publicly listed companies. With the company’s growth, the shares will appreciate, “ he said, adding that…
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You never get a second chance to make a first impression, so it’s been said. Indeed, Absa Bank Uganda, a subsidiary of Absa Group, one of Africa’s largest financial institutions, has spared in doing its best as Airtel Uganda’s Lead Transaction Advisor⏤ for obvious reasons. First of all, it is the sheer size and significance of the Airtel IPO. The telco has put up for the IPO, 8,000,000 shares (20% of the issued shares) for UGX100 per share, a transaction that should realise some UGX800 billion (USD 212 million) that the company says it needs to bulk up funding for…
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Old Mutual Investment Group, one of Africa’s leading investment managers as well as regional investment bank, Dyer & Blair have separately endorsed investments in the ongoing Airtel IPO, rating it a good buy. The two investment banks, in separate research notes seen by this reporter, give the telco’s past steady in some cases faster-than-industry growth across key fundamentals as well as strong industry prospects as reasons for their strong buy recommendations. Airtel Uganda, a subsidiary of Airtel Africa, itself a subsidiary of India’s Bharti Airtel, on August 30th 2023, kicked off the sale of 8 billion shares (20% of the…
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Billionaire businessman as well as the largest Ugandan and individual equities investor on the Uganda Stock Exchange has endorsed the Airtel Uganda IPO, saying that it is a good buy. Speaking to CEO East Africa Magazine on the sidelines of the Airtel Uganda launch of its IPO prospectus, Dr. Sudhir Ruparelia said that the historic good performance of the telco, coupled with the growing role of communication technologies, makes the Airtel IPO, worthy of consideration. “What I’ve seen here, in the prospectus, for example, forecasted earnings per share of UGX22 per share this year⏤ for a price of UGX100 at…
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Airtel Uganda, will today, August 30th 2023, at 10 am, begin selling 8 billion shares (20% of the issued 40 billion shares) for UGX100 each, also known as IPO, in a sale expected to fetch the original shareholders- a handsome UGX800 billion. The offer price values the company, which doesn’t include Airtel Mobile Commerce Limited (AMCUL), at UGX4 trillion. The offer shall close on 13th October 2023 at 0400pm. Results of the allocation shall be announced on 30th October 2023 at 04:00 pm and thereafter the company shall on 31st October 2023, list the entire 40 billion shares on the…
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