KAMPALA – Airtel Uganda Managing Director manoj murali on Wednesday announced that the Company had doubled its incentive shares offer.
He mentioned that the doubling of the bonus shares is to encourage participation in the IPO and promote allocation to Ugandan investors. This decision, Mr Murali said, was proposed by the Board of Directors to offer a substantial enhancement of the incentive structure.
Previously, retail investors applied for more than 2,500 shares, and up to 18.5 million shares got 5 Incentive Shares for every 100 they bought. In the new allocation, this individual is allocated 10 Incentive shares for every 100 shares allocated.
Commenting on the revision of the incentive share structure, Mr Murali said that the Company is keen to promote broad ownership of our shares and welcomes the participation of all investors.
“We are excited about our growth trajectory and have, at minimum, doubled the incentive shares available for all categories of investors to further enhance the attractiveness of our IPO.” Mr Murali said.
The Airtel Uganda IPO is a landmark in the country’s capital markets and we have left no stone unturned to ensure a successful outcome.
All investors who have previously applied for shares will receive the revised Incentive shares as well. Investors who allocated shares in the Offer will be eligible for dividends declared by the Company in November of 2023.
Commenting on the closing date of the IPO, Mr Murali expressed gratitude to Ugandans for showing enthusiasm and participating in the hashtag#AirtelIPO.
“The IPO is coming to a close on 27th October and we are truly humbled by the support that Ugandans have shown us. I call upon those who wish to make the last-minute applications, to do so. We have a strong team of partners on this transaction that will assist you in making an informed choice” Mr Murali said.