Why Airtel Uganda share sale faced limited response as investors favored bonds. Insights into market dynamics and investor sentiment

Airtel Uganda Ltd., a telephone company owned by Indian businessman Sunil Mittal, faced a soft response in its first sale of shares to the public. Investors, looking for safe bets, chose government bonds instead of buying stocks. Of the initial offering of 8 billion shares, Airtel managed to sell only 54.5%, raising 211.4 billion shillings…