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Tycoon Sunil Mittal s Uganda IPO flops as investors prefer bonds, ET Telecom

Sunil Mittal: Airtel said it managed to raise 211.4 billion shillings ($56 million) after selling 54.5% of the 8 billion shares on offer. Retail investors bought just 0.3% of the IPO. Shares were unchanged at 100 shillings on its debut on Tuesday.

Sunil Mittal s Airtel Uganda IPO flops as investors prefer bonds: Report

Investors may have opted for less risky government securities while disregarding the future value of the stock, the Uganda Security Exchange's Chief Executive Officer, Paul Bwiso, said in the nation's capital, Kampala, Bloomberg reported. Get more IPO News and Business News on Zee Business.

sunil mittal: Tycoon Sunil Mittal s Uganda IPO flops as investors prefer bonds

Airtel said it managed to raise 211.4 billion shillings ($56 million) after selling 54.5% of the 8 billion shares on offer. Retail investors bought just 0.3% of the IPO. Shares were unchanged at 100 shillings on its debut on Tuesday.

Sunil Mittal s Uganda IPO flops as investors prefer bonds: Report

Indian billionaire Sunil Mittal’s Airtel Uganda Ltd. failed to sell about half of the shares on offer in its initial public offering (IPO), as investors stayed away, preferring high-yield government bonds, a media report said.

Sunil Mittal s Airtel Uganda IPO failed to sell as investors prefer bonds

Sunil Mittal s Airtel Uganda IPO failed to sell as investors prefer bonds
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