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Sunil Mittal: Airtel said it managed to raise 211.4 billion shillings ($56 million) after selling 54.5% of the 8 billion shares on offer. Retail investors bought just 0.3% of the IPO. Shares were unchanged at 100 shillings on its debut on Tuesday.
Airtel said it managed to raise 211.4 billion shillings ($56 million) after selling 54.5% of the 8 billion shares on offer. Retail investors bought just 0.3% of the IPO. Shares were unchanged at 100 shillings on its debut on Tuesday.
The loss was largely driven by a drop in the market capitalisation of five cross-listed counters including Centum Investments, East African Breweries Limited, Kenya Airways, KCB and Equity Bank
The offer to buy shares in Airtel Uganda opened on August 30, 2023, and will close on October 13, 2023. The allocation will start on October 30, 2023.