MTN Group has announced that its subsidiary, MTN International (Mauritius) Limited, plans to sell a portion of its stake in MTN Uganda. This move aligns with Uganda’s regulatory requirements and MTN’s objective to increase local ownership in its Ugandan operations.
The offer, open to a wide range of investors, aims to allow Ugandan retail and professional investors to become stakeholders in MTN Uganda and participate in its future growth.
The offering will be open from May 27th to June 10th, 2024. MTN has received a waiver from the Uganda Stock Exchange, allowing the company to list based on the 12.97% public float achieved in the first public offering. The offer complies with the company’s national telecoms operator license, the National Broadband Policy 2018, and the laws of the Uganda Communications Commission.
MTN is keen to stress that this offering is not just for the elite. It’s an opportunity for all Ugandan retail and professional investors, including MTN Uganda’s customers, to own a stake in the company. By participating, they can play a significant role in shaping the company’s future growth and success.
The offering is open to a wide range of investors, including individual investors and Ugandan, East African, and international professional investors. To ensure a fair distribution, the company has set a minimum application requirement of 1,400 sale shares. For those interested in larger investments, applications for amounts exceeding this minimum must be in multiples of 420 sale shares. There is no limit on the number of sale shares a qualifying investor can apply for, providing a flexible and accessible investment opportunity.
