Despite huge expectations, Airtel Uganda’s initial public offering (IPO) has yielded little buzz and hype on the local stockmarket so far, a result of weak marketing and misgivings about the exclusion of its mobile money services business from the listed portfolio.
The IPO was rolled out on August 30 after a 12-month delay blamed on weak economic conditions by the telecommunications firm. Under the new telecommunications industry licensing regime, all telcos are required to list on the Uganda Securities Exchange (USE) to increase citizens’ share of industry profits after years of revenue growth.
