Capital Markets Authority of Kenya (CMAK) has granted permission for the MTN Uganda Initial Public Offering (IPO) to be marketed in Kenya, allowing the sale of shares to both Professional Investors and Retail Investors after the offer opened in Uganda on 11th October 2021.
KAMPALA | LIFESTYLE UGANDA ( https://lifestyleuganda.com/) — MTN Uganda has received approval from the Capital Market Authority of Kenya (CMAK) to market its Initial Public Offering (IPO) in Kenya, allowing both professional investors and retail investors to purchase shares after the Offer opened in Uganda on 11th October 2021.
- The MTN Uganda IPO will close on Monday 22nd November 2021 at 4pm EAT.
- Every East African investor who applies for shares will receive 5 bonus shares.
- You may also be interested in how to buy MTN Uganda shares, an investor’s guide.
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In Kenya, marketing is coordinated by SBG Securities, Dyer and Blair, and their Ugandan affiliates. Both are licensed market intermediaries in Kenya.
As the Transaction Advisor and Lead Sponsoring Broker for the MTN Uganda IPO, SBG Securities Uganda Limited will work closely with SBG Securities Limited (Kenya) to market the IPO in Kenya.
MTN Uganda is offering 4.4 billion ordinary shares, or twenty per cent of the company, through an initial public offering at a price of UGX 200.00 each.
The minimum amount each prospective shareholder must apply for is 500 shares, so if all 500 shares are allocated, each shareholder will invest at least UGX 100,000.
To apply for the MTN Uganda IPO, Kenyan investors must have a valid ID or passport to open a Securities Central Depository (SCD) account at the Uganda Securities Exchange (USE).
East Africans applying for MTN Uganda shares will receive 5 bonus shares for every 100 shares they are allotted. The IPO closes on Monday, 22nd November 2021 at 4 pm Eastern Time.
With its offer, MTN will become the first telecommunications company to list on the Uganda Securities Exchange, which will contribute to deepening Ugandan and East African capital markets by enhancing public access.
CEO Wim Vanhelleputte said the decision to list shares on the stock exchange is part of MTN’s localization agenda intended to align its company’s priorities with those of its operating markets, particularly the African continent, as spelt out in its Ambition 2025 strategy.
“The decision to list MTN on the Uganda Securities Exchange is in line with our localization agenda aimed at prioritizing local investors with the goal of giving Ugandans and indeed East Africans the opportunity to own part of the company,” said Vanhelleputte, adding that Uganda is the fourth MTN operating market to get listed in Africa.
“We have grown tremendously during our 23 years in Uganda, thanks to the enabling environment provided by the Government of Uganda as well as the unwavering support and trust of the Ugandan people and people in East Africa in general.”
“We look forward to welcoming Ugandan and indeed East African retail investors as part-owners of a company that we have collectively built and that we’ll continue to grow together,” Vanhelleputte said.
You can read the MTN Uganda IPO prospectus approved by Uganda Capital Markets Authority at www.mtn.co.ug/investors.
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