{"id":4336,"date":"2021-10-21T08:29:02","date_gmt":"2021-10-21T08:29:02","guid":{"rendered":"https:\/\/ugandaupdatenews.com\/?p=4336"},"modified":"2021-10-21T08:29:06","modified_gmt":"2021-10-21T08:29:06","slug":"ugandans-rush-for-mtn-uganda-ipo-shares-as-telecom-company-sets-up-new-m-ipo-subscription-channel","status":"publish","type":"post","link":"https:\/\/prowebinhost.com\/anzu\/ugandans-rush-for-mtn-uganda-ipo-shares-as-telecom-company-sets-up-new-m-ipo-subscription-channel\/","title":{"rendered":"Ugandans rush for MTN Uganda IPO shares as Telecom company sets up new m-IPO subscription channel"},"content":{"rendered":"\n

Excited Ugandans have rushed for the MTN Uganda Limited shares as the telecom giants announced the opening of its initial public offer (IPO) of 20% of its ordinary shares, following approvals by the Capital Markets Authority of Uganda (CMA) and the Uganda Securities Exchange (USE).<\/p>\n\n\n\n

The secondary sale of 4.4 billion shares by the MTN Group will be at an offer price of UGX200 per share. The offer opened on 11 October 2021, and will close on Monday 22 November 2021. MTN Group currently holds 96% of MTN Uganda.<\/p>\n\n\n\n

\u201cWith the opening of the IPO we are one step closer to our goal of broad ownership of our business across the Ugandan population,\u201d said MTN Uganda Chief Executive Officer Wim Vanhelleputte. \u201cOur m-IPO initiative is the country\u2019s first paper-free IPO platform aimed at retail investors, in partnership with the USE, and will help position Uganda at the forefront of digitising the capital markets for Africa,\u201d <\/em>he added.<\/p>\n\n\n\n

Yolanda Cuba, MTN Group Vice President for Southern and East Africa, said the IPO would give Ugandans an opportunity to participate in the ownership of their country\u2019s leading mobile operator and, in doing so, help deepen Uganda\u2019s capital markets.<\/p>\n\n\n\n

\u201cToday\u2019s<\/em> IPO<\/em> is<\/em> very<\/em> clearly<\/em> aligned<\/em> with<\/em> our<\/em> Ambition<\/em> 2025<\/em> strategic<\/em> intent of leading digital solutions for Africa\u2019s progress,\u201d <\/em>she said.<\/p>\n\n\n\n

The offer aims to facilitate the broadest possible shareholder base in Uganda, with Ugandan Retail Investors making Applications for Offer Shares of an aggregate minimum value of UGX 5 million to be allocated the full number of Offer Shares for that minimum value applied for. A unique digital channel will be available to retail investors for IPO subscription: the m-IPO portal, accessible via USSD and via the MyMTN App. Traditional payment channels will also be available across Uganda at Stanbic Bank, Absa Bank and Standard Chartered Bank branches and authorized selling agents.<\/p>\n\n\n\n

The IPO includes a broad share incentive scheme and Ugandan retail investors in particular using the m-IPO channel are eligible to receive 10 additional incentive shares for every 100 shares applied for and allocated in the IPO.<\/p>\n\n\n\n

Following the successful completion of the offer, the company will list its entire ordinary share capital on the Main Investment Market Segment of the USE. This will meet the requirements of MTN Uganda\u2019s licence, which require its listing by end-June 2022.<\/p>\n\n\n\n

MTN Uganda started operating in 1998. In the first half of 2021, it had 14.9 million subscribers, 8.6 million Mobile Money users and 4.7 million active data users.<\/p>\n\n\n\n

The dates noted in this announcement may be subject to change.<\/em><\/p>\n\n\n\n

About MTN Uganda<\/strong><\/p>\n\n\n\n

MTN Uganda is a leading telecoms company in Uganda with a primary objective of carrying on the business of a national operator of a telecommunications network pursuant to the NTO licence granted by the UCC. Among our offerings are network services, digital and financial technology services, interconnect and roaming, sale of mobile devices and MTN Mobile Money (which is conducted through subsidiary MTN Mobile Money Uganda Limited). MTN has a presence in all 134 districts of Uganda. Our services are delivered through a network of 119 077 Mobile Money agents, 200 service stores and 13 main distributors. At end-June 2021, MTN Uganda had<\/p>\n\n\n\n

14.9 million subscribers, 8.6 million MoMo users and 4.7 million active data users.<\/p>\n\n\n\n

For more information, please contact:<\/p>\n\n\n\n

Rhona Arinaitwe<\/em><\/p>\n\n\n\n

Senior<\/em> Manager Corporate communication <\/em>Rhona.Arinaitwe@mtn.com<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Excited Ugandans have rushed for the MTN Uganda Limited shares as the telecom giants announced the opening of its initial<\/p>\n","protected":false},"author":1,"featured_media":4337,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[24],"tags":[],"class_list":["post-4336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2021\/10\/Uganda_Telecommunications_MTN_Uganda_Named_Top_Taxpayer_by_President_Museveni.jpg","jetpack-related-posts":[{"id":4750,"url":"https:\/\/prowebinhost.com\/anzu\/telecom-giant-mtn-uganda-lists-its-shares-on-the-uganda-security-exchange\/","url_meta":{"origin":4336,"position":0},"title":"TELECOM GIANT MTN UGANDA LISTS ITS SHARES ON THE UGANDA SECURITY EXCHANGE","author":"UgandaUpdate","date":"December 7, 2021","format":false,"excerpt":"Telecom giant MTN Uganda Limited has listed \u00a022.4\u00a0billion ordinary shares on the Uganda Securities Exchange (USE), with trading commencing immediately. 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