Airtel Uganda’s majority shareholder Airtel Africa is set to sell additional shares amounting to a 9.11 percent stake in a secondary offer to comply with a requirement to offload a minimum ownership of 20 percent to minority investors trading on the Uganda Securities Exchange (USE).
The multinational in November 2023 managed to sell 4.35 billion shares equivalent to a 10.89 percent stake in Airtel Uganda’s initial public offering (IPO) that was open to domestic and foreign investors including Kenyans, failing to meet the ownership rule.
