The firm, a unit of Indian telecoms giant Bharti Airtel, was listed on the Uganda Securities Exchange (USE) last year after a heavily undersubscribed initial public offering.

It earned 426.8 billion Ugandan shillings ($108.9 million) in pre-tax profit last year.

Airtel competes with a unit of South Africa's MTN Group in the east African country.

($1 = 3,920.0000 Ugandan shillings)

(Reporting by Elias Biryabarema, Editing by Bhargav Acharya)