Last year Airtel Africa Plc disclosed that it will also sell additional shares amounting to a 9.11 percent stake in its Ugandan subsidiary through a secondary offer to comply with Kampala's listing requirements. The multinational in November 2023 managed to sell 4.35 billion shares equivalent to a 10.89 percent stake in Airtel Uganda's initial public offering (IPO) and failed to meet the ownership rule. Airtel Africa said it had received a regulatory extension to sell the balance of 3.64 billion shares by November 2026, a move that will see it replicate MTN group which successfully offloaded a 20 percent stake in MTN Uganda in two transactions including a secondary offer conclude in June 2024Airtel Africa sold its shares at a price of Ush100 ($0.02) per share in the IPO that also offered incentive shares on a band subscription volume to attract investors.