Airtel Uganda to Offer 8 Billion Shares on the Uganda Securities Exchange

By Mark Kawalya

On October 31st, Airtel Uganda will officially list 8 billion shares on the Uganda Securities Exchange (USE), following MTN Uganda, which took a similar direction in 2021.The telecom aims to raise 800 billion Ugandan shillings through this listing, with each share priced at UGX 100. The minimum application amount is UGX 250,000.The Initial Public Offer (IPO) is will enhance Airtel Uganda’s profile across the continent as well as giving Ugandans and eligible investors the opportunity to become stakeholders in the company.

As of August 30th, 2023, at 10:00 a.m. Ugandans can acquire Airtel Uganda shares with a cut-off date set for October 13th, 2023, at 4:00 p.m. The allocation of shares will be announced by Airtel Uganda on October 30th, 2023, at 4:00 p.m. Trading of Airtel Uganda shares on the Uganda Securities Exchange (USE) is scheduled to start on October 31st, 2023, at 9:30 a.m.

Purchasing Airtel Uganda Shares Made Easy

Airtel Uganda has simplified the share-buying process, making it accessible to a wide range of investors, including those in rural areas. By dialing *185# on a mobile device and using their ID, even individuals from remote villages can create a security deposit account. This account allows users to make daily investments with a maximum limit of UGX 20 million. The process includes:

  • Opening a Securities Central Depository (SCD) account by dialing 18585#. This process is free of charge
  • If you already possess an SCD account, dial 18585# and select “Apply for Shares,” then follow the prompts. Details of the authorized selling agents are available in the prospectus
  • Visiting the USE Easy portal
  • Contacting a licensed broker to complete the application form

Benefits of Acquiring Airtel Uganda Shares

Airtel Uganda shares come with attractive incentives for eligible applicants, particularly retail investors. These incentives include:

  • 5 incentive shares for every 100 shares allocated to retail investors applying for up to 18.5 million shares
  • An additional incentive share for retail investors applying for up to 18.5 million shares through the m-IPO
  • 10 incentive shares for retail investors applying for over 18.5 million shares and up to 37 million shares
  • 20 incentive shares for retail investors applying for over 37 million shares

Analysts are optimistic regarding Airtel Uganda’s prospects as an investment option. Telecom companies have a history of profitability as they provide essential communication services. Kalyegira Keith, the CEO of the Capital Markets Authority, highlighted the telecom sector’s role in accelerating business in Uganda over the past two decades.

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