The Chief Executive Officer (CEO) of MTN Uganda Wim Vanhelleputte has reminded all potential shareholders to apply for a stake in the telecom service provider before the deadline Monday 22nd November, 2021.
“Anybody who wants to jump onto the MTNIPO bus, this is your last chance. Make your informed decision. The offer is valid and open until Monday at 4pm,” he said.
Wim said the mobile money business is 100% subsidiary of MTN Uganda thus it is included in the listing. As a shareholder of MTN Uganda you WILL get the full economic benefit of the MTN mobile money business.
“I believe any potential investor has the information they need to make a decision right now. Read the prospectus, make an informed decision, we will be happy to have as many Ugandan shareholders as possible because this will make the company stronger,” he said.
Last month, MTN Uganda launched the Initial Public Offer (IPO) of over 4.4 billion shares to Ugandans a few days after announcing its intention to float 20 percent of its shares on Uganda Securities Exchange (USE). MTN International owned 96% of shares in Uganda but now owns 76% of the company, and the other 4% belong to Mr. Charles Mbiire.
MTN International has committed a one Trillion expansion over the next three years in Uganda and is still 76% owners of MTN Uganda, so they are not planning on leaving the country as some people claim. 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.
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.