Airtel Uganda Ltd. plans to raise as much as 800 billion shillings ($216 million) in an initial public offering, making it the nation’s biggest share sale.
The company priced its IPO at 100 shillings apiece valuing the nation’s second-biggest telecommunications carrier at 4 trillion shillings. The unit of billionaire Sunil Mittal’s Airtel Africa Plc is selling a 20% stake, or 8 billion shares, on the Uganda Securities Exchange to fulfill a regulatory requirement.
The offer opens on Wednesday and closes on Oct. 13, according to a prospectus released in the capital, Kampala, on Tuesday. The company will start trading on the exchange on Oct. 31.
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