{"id":59565,"date":"2023-11-09T06:29:17","date_gmt":"2023-11-09T06:29:17","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/airtel-lists-on-uganda-securities-exchange"},"modified":"2023-11-09T06:32:39","modified_gmt":"2023-11-09T06:32:39","slug":"airtel-lists-on-uganda-securities-exchange","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/airtel-lists-on-uganda-securities-exchange","title":{"rendered":"Airtel lists on Uganda securities exchange"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Airtel Uganda Tuesday listed 4.36 billion shares on the Uganda Securities Exchange (USE) after attracting 4,614 investors in its initial public offering (IPO), which saw the takeover of 54.45 percent of the offered eight billion shares.<\/b><\/p>\n

The listing has attracted the most retail investors (4,600) of any listing on the local bourse, despite the fact that they\u2019ve long shown a lackluster interest in local company offerings due to deficient sensitization and limited resources to have substantial stakes in listing firms.<\/p>\n

READ:<\/b> Airtel to list eight billion shares after a year of delay<\/p>\n

Airtel was able to increase the participation by doubling shares for both ordinary Ugandans and institutions during the offering.<\/p>\n

However, this is quite low compared to 7,000 people that opened Securities Central Depository (SCD) accounts during the IPO that started on August 30, 2023.<\/p>\n

In comparison to previous public offerings, retail investors have increased from 2,800 when Cipla Quality Chemicals Limited was listed in 2018.<\/p>\n

The incentive shares Airtel issued during the IPO required retail investors to pay Shs47 for each share unlike the previous set share price of Shs100, which increased share take-up, giving the shareholders a future effective return on investment of just under 11 percent.<\/p>\n

\u201cYou wonder why people did not look at this as a potential return on investment because it\u2019s quite competitive with the money markets and the trust funds. I think it\u2019s about knowledge and understanding of the capital markets and how companies operate. It needs a lot of much financial literacy [to make more people owning shares in public companies]\u201d said Paul Bwiso, the chief executive officer of USE<\/p>\n

According to the telecom\u2019s chairman, Hannington Karuhanga, the Shs211 billion raised from the share sale will be used to fund capital expenditure and operating infrastructure that will help the company be more competitive in the market.<\/p>\n

This listing now values Uganda’s total market capitalization at Shs11 trillion, or 6 percent of the country’s GDP and will make it the second telecom to go public after MTN Uganda in 2021.<\/p>\n

Telecom companies are fulfilling requirements in their new licenses that mandates them to list 20 percent of their stake to Ugandans.<\/p>\n

\u201cAirtel\u2019s listing will definitely project our market to be attractive to many foreign investors who currently dominate the trading of Uganda\u2019s listed companies (60 pc) to make it more competitive and liquid,\u201d said Mr Bwiso.<\/p>\n

The telecom company expects to pay a total dividend of approximately Shs500 billion for the financial year ending December 31, 2023, comprised of quarterly payments, according to its prospectus.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. Airtel Uganda Tuesday listed 4.36 billion shares on the Uganda Securities Exchange (USE) after attracting 4,614 investors in its initial public offering (IPO), which saw the takeover of 54.45 percent of the offered eight billion shares. The listing has attracted the most retail investors (4,600) of any listing on the local bourse, […]<\/p>\n","protected":false},"author":84,"featured_media":59563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,240,234],"class_list":["post-59565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nAirtel lists on Uganda securities exchange - Uganda<\/title>\n<meta name=\"description\" content=\"Airtel Uganda Tuesday listed 4.36 billion shares on the Uganda Securities Exchange (USE) after attracting 4,614 inves ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/airtel-lists-on-uganda-securities-exchange\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Airtel lists on Uganda securities exchange\" \/>\n<meta property=\"og:description\" content=\"Airtel Uganda Tuesday listed 4.36 billion shares on the Uganda Securities Exchange (USE) after attracting 4,614 inves ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/airtel-lists-on-uganda-securities-exchange\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-09T06:29:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-09T06:32:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/11\/sm_1699498858.676496.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1620\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/airtel-lists-on-uganda-securities-exchange#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/airtel-lists-on-uganda-securities-exchange\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Airtel lists on Uganda securities exchange\",\"datePublished\":\"2023-11-09T06:29:17+00:00\",\"dateModified\":\"2023-11-09T06:32:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/airtel-lists-on-uganda-securities-exchange\"},\"wordCount\":432,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/airtel-lists-on-uganda-securities-exchange#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/11\/sm_1699498858.676496.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/airtel-lists-on-uganda-securities-exchange#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/airtel-lists-on-uganda-securities-exchange\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/airtel-lists-on-uganda-securities-exchange\",\"name\":\"Airtel lists on Uganda securities exchange - 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