After announcing its intentions to list on the Uganda Securities Exchange last week, MTN Uganda is finally ready for launch for an Initial Public Offering(IPO). The Telecom is listing 20% of its ordinary shares, following approvals by the Capital Markets Authority of Uganda (CMA) and the Uganda Securities Exchange (USE) yesterday.
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 . The Offer and the Listing are being undertaken in accordance with MTN Group’s objective to broaden Ugandan shareholding in MTN and provide an opportunity to Ugandan investors, including MTN’s loyal customers, to own a stake in the Company and participate in its future growth.
Alright lets dive into it; When will the offer start and end?
The Offer opened yesterday 11th Oct, 2021 at 10:00 am and will close at 4:00 pm on 22nd November 2021 . The announcement of share allocation will be made at 4:00 pm 3rd December 2021. Listing of MTN Shares on the USE and start of trading at 12:00 pm 6th December 2021. What’s on the offer?
MTN is offering 4,477,808,848 ordinary shares to the public. The Price of one share is UGX 200 . The minimum number of shares per application is 500 which is Ugx 100,000 . Applications for MTN shares are in batches of 500 each, and there are no limits on how many MTN shares you apply for. What is the allotment process?
Ugandan individual investors will be considered first in case the number of applications is more that the number of shares offered. Ugandan individuals will receive guaranteed shares up to UGX 5 million with the full number of bonus shares that they are entitled to. If an application is not successful or in case of partial allotment, all payments will be refunded though the same channel, free of charge. How do you apply for MTN Shares?
First of its kind m-IPO where Ugandans can apply for their shares through their MTN mobile phones from the comfort of their homes. Dial USSD code *165 *65# to open SCD account and apply for MTN shares.
Visit MyMTN app to open SCD account and apply for MTN shares.
All USSD and My MTN app applications are free of any charge.
Apply for MTN shares through USE Easy-Portal at scd.use.or.ug .
[…]
