Exciting news for Ugandans as Airtel Uganda, a famous mobile phone company, introduces a special sale called an Initial Public Offering or IPO.
The telecommunication company has set the Initial Public Offering at Ksh.100, which is about the same as three US cents for each share. This is like when a company offers some of its ownership to regular people who want to buy a part of it. Airtel Uganda is part of a bigger group called Airtel Africa, which is from India.
The government wants people in Uganda to be a part of the company, so they made this rule. The IPO is kind of a special offer for people in Uganda, especially those who already use Airtel services. The company wants their customers and other people in Uganda to be a part of their future growth. This matches one of their main goal whish is to cater for customers.
Airtel is a big telecommunication company, and they’re found in 14 different countries in Africa. They have more than 140 million people using their services. This is the second time a phone company is doing something like this in Uganda. The first was MTN Uganda two years ago.
Read Also: Uganda Sees Revenue Surge with Increased Banana Harvest
People who know a lot about money stuff say that this new IPO thing will make the stock market in Uganda bigger. The stock market is a place where people can buy and sell shares from different companies. Right now, the total value of all the shares in the stock market is about $1.9 billion, but it might become over $3 billion because of this IPO.
This will also make the stock market have more companies in it. A company called Crested Capital will help with the sale, and ABS Bank will give advice and handle the money stuff.
There’s also a law that says foreign phone companies like Airtel have to sell shares on the local stock market. This way, some of the money they make stays in Uganda and helps the country’s economy. The government says that a lot of money leaves Uganda when foreign companies take their profits back to their home countries.
If you want to buy some shares and become a part-owner of Airtel Uganda, you have until October 13th to do it. Don’t worry, the Uganda Securities Exchange, which is like the store where you can buy shares, has made it easy for people to buy shares using technology.
Subscribe to our Youtube channel Switch TV
