Airtel Uganda said it has doubled the amount of bonus shares for potential investors, to boost participation in its initial public offering (IPO) set to close on Friday.
Bonus offers will be doubled for investors across all categories, Airtel said in a statement issued late on Tuesday.
The firm launched its share sale on Aug. 29 and set the share price at 100 Ugandan shillings. It had initially announced bonus shares of various sizes ranging from 1-37 for different categories of investors.Results of the IPO are expected on Oct. 30, while shares will be listed on the Uganda Securities Exchange on Oct. 31, according to a prospectus.
When the listing completes, Airtel Uganda will be the second listed telecoms company on Uganda's stock exchange after MTN UgandaHonda Motor is shelving plans to jointly develop affordable electric vehicles with General Motors due to a changing business environment, Bloomberg News reported on Wednesday, citing an interview with Honda CEO Toshihiro Mibe.
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