AIRTEL Africa, a leading telecommunications company, has announced that its wholly owned subsidiary in Uganda (Airtel Uganda Limited) will be listed on the Main Investment Market Segment of the Uganda Securities Exchange.

According to a corporate action filed with the Nigerian Exchange Limited (NGX) and signed by Group Company Secretary, Simon O’Hara, “Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces that its wholly owned subsidiary in Uganda (Airtel Uganda Limited) has announced the intention to publish a prospectus and float shares on the Main Investment Market Segment of the Uganda Securities Exchange.”

Airtel Uganda Limited is set to initiate an initial public offer (IPO) of 8,000,000,000 ordinary shares, which represents 20 per cent of the company.

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This move is aimed at meeting regulatory requirements and enhancing local ownership. The actual publication of the prospectus is subject to approval from the Capital Markets Authority of Uganda (CMA).

The company also noted that pending approval of the dealings from Uganda’s Capital Market Authority, the share offer will involve the sale of ordinary shares by Bharti Airtel Uganda Holdings B.V., a wholly-owned subsidiary of Airtel Africa.

The proceeds from this offering, net of associated expenses, will be directed to Airtel Africa.

Airtel Africa, listed on both Nigeria Exchange Limited (NGX) and London Stock Exchange (LSE), noted that the IPO aims to increase meaningful local ownership of Airtel Uganda Limited and preference will be given to Ugandan investors, which would help in contributing to the growth of the capital markets in Uganda.

Meanwhile, Olusegun Ogunsanya, CEO of Airtel Africa Plc has sold 666,174 shares in the company worth £757,440.

This information as contained in a notice of Directors Dealings signed by Group Company Secretary Simon O’Hara and sent to the Nigerian Exchange Limited said the sale of 666,174 shares represents 0.02 per cent of the company’s total outstanding shares.

“Airtel Africa announces the following transaction in the Company’s ordinary shares (“Ordinary Shares”) by Olusegun Ogunsanya, Chief Executive Officer and a PDMR of the Company.

This sale of Ordinary Shares is to be used to fund a property purchase by Mr Ogunsanya.

 

Following this transaction Mr Ogunsanya holds 4,325,282 Ordinary Shares in Airtel Africa.”

The notice signed by Company Secretary, Simon O’Hara today, 11th August 2023, indicated that the transaction was done at two on 4th August 2023 and it took place at London Stock Exchange.

The 666,174.760 units of shares was sold at an aggregated price of £1.137 per share which brings the aggregated total to £757,440.70.

 

 

 

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