MTN chances of listing on the Uganda stock exchange have been boosted by over 2.2 million shareholders after NSSF offered to buy shares worth $100 million.
NSSF-Uganda has 2.2 million active members
Eagle Online can reveal the offer is likely to make MTN-Uganda Initial Public Offer (IPO) one of the biggest in Uganda which is going to raise over $150 million.
The MTN IPO is positioning the telecom company as the second biggest company in the region after Safaricom in Kenya which is valued at $14 billion followed by MTN at $1.2.54 billion and then East African Breweries come third at $1.1.7 billion.
Reports further indicate that approval for other East Africans especially Kenya and Tanzania went through late and therefore, the telecom will have to give more time for the offer them.
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 businessman Mr. Charles Mbire.
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 Shs100,000 you have a chance to be a shareholder in MTN Uganda. You cross from being a subscriber to an owner of MTN Uganda.
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.
