MTN Uganda has launched the Initial Public Offer (IPO) of over 4.4 billion shares to Ugandans. Last week, the telecom service provider announced its intention to float 20 percent of its shares on Uganda Securities Exchange (USE).
“I announce MTN’s intention to float 20 percent of its issued shares through an Initial Public Offer (IPO) of existing ordinary shares, a process which has already been approved by Capital Market Authority (CMA) of Uganda,” MTN Chairman Mbire said.
Speaking earlier today, Wim Vanhelleputte, the CEO of MTN Uganda said; “the MTN Uganda majority shareholder MTN International, is offering the general public 20 percent of its shares at a value of Shs 200 per share.”
“For as little as Shs 100,000 you have a chance to be a shareholder in MTN Uganda. You cross from being a subscriber to an owner of MTN Uganda,” Anne Juuko CEO of Stanbic bank said.
You can apply for shares in the comfort of your home by simply dialing *165*65# to open a Securities Central Depository (SCD) account and then applying for MTN shares or Visit the My MTN app to open an SCD account and apply for MTN shares.
Interested persons can also apply for MTN shares through USE Easy-Portal at https://scd.use.or.ug and through paper application forms by contacting your licensed stockbroker.
Last year June, 2020, the Government of Uganda through Uganda communications Commission (UCC) renewed the National Telecommunication Operator Licence of MTN Uganda and thus extended its stay in Uganda on condition that they would sell 20 percent of its shares to the public of Uganda.
MTN Uganda was first granted a Second National Operator License for the provision of telecommunications services on October 20, 1998 for a period of 20 years. The telecommunication giant paid $100 million for renewal of the license for 12 years.
In 2019 President Museveni urged MTN Uganda to list on the Uganda Securities Exchange (USE) so that some of the revenue stays in the country as opposed to all moving out. At that time National Social Security Fund (NSSF) had acquired 4 percent of the shares and the Fund remains a potential purchase of the extra stake.
