Uganda, March 6 -- The Airtel share price remained flat at Shs87 yesterday, two days after the telecom declared a profit return of Shs296b for the year ended December 2023.

Airtel, which was listed on the Uganda Securities Exchange (USE) on November 7 last year, has not attracted sufficient activity, forcing its stock to drop to Shs87 from the IPO Shs100 offer price.

The drop has been consistent since the telecom listed on the USE on November 7, resulting from subdued market activity with more investors showing willingness to sell, amid low demand.

People familiar with Airtel's stock activity, but declined to be named to speak freely, said the value of shares traded so far since Airtel's listing is Shs60m, which is way less than the to...