Airtel Uganda to raise $216 mn via 20% stake sale in IPO

Kolkata: Airtel Africa’s Uganda unit plans to raise $216 million (about Rs 1,788 crore) through a 20% stake sale in an initial public offering (IPO), and use the funds to drive its expansion in the country.

The IPO’s objective is to establish a source of future capital to support Airtel Uganda’s extensive growth strategy, said people aware of the matter.