Four hours before the closure of the Airtel’s initial public offering, as the telco struggled to get investors or make a third extension to hit the target of selling at least 20 percent of the floated stock, National Social Security Fund (NSSF) Uganda bought over 50 percent of the eight billion shares.
In a joint statement issued by the NSSF Managing Director Patrick Ayota and Airtel Uganda CEO Manoj Murali on Friday afternoon, Uganda’s biggest pension scheme has invested $52.7 million (Ush199 billion) for 10.55 percent of the 20 percent stock on offer.
