• The MTN Uganda IPO has offered for sale 4.4 billion ordinary
shares, accounting for a 20 percent stake in the company, at a
price of UGX200.00 (approximately KES 6.28) per share.
• All East African Retail Investors who apply for shares, will receive
5 bonus/incentive shares for every 100 shares they are allocated.
Kenya’s Capital Markets Authority (CMAK)
has provided its ‘no objection’ for The MTN Uganda Initial Public Offering (IPO) to be
marketed in Kenya, allowing the marketing of the shares to both Professional Investors
and Retail Investors following the opening of the offer in Uganda on 11th October 2021.
The marketing in Kenya is spearheaded by SBG Securities, and Dyer and Blair, both of
whom are licensed market intermediaries in Kenya, working in collaboration with their
respective affiliates in Uganda. SBG Securities Uganda Limited is the Transaction Advisor
and Lead Sponsoring Broker for the MTN Uganda IPO and will be collaborating with SBG
Securities Limited (Kenya) to market the IPO in Kenya.
The MTN Uganda IPO offers for sale 4.4 billion ordinary shares, accounting for a 20 percent
stake of the company, at a price of UGX 200.00 per share. Each prospective shareholder
must apply for at least 500 shares, which, if fully allocated, results in a minimum investment
of UGX 100,000 per shareholder.
Kenyan investors will require a valid identification national ID or passport to open a
Securities Central Depository (SCD) account at the Uganda Securities Exchange (USE) to
apply for the MTN Uganda IPO. All East Africans who apply for shares, will receive 5 bonus
shares for every 100 shares they are allocated. The MTN Uganda IPO will close on Monday
22nd November 2021 at 4pm EAT.
Sensitivity: MTN Group – Internal
As the first telecommunications company to list on the Uganda Securities Exchange,
MTN’s offer will contribute towards deepening the Ugandan and East African’s capital
markets by enhancing public access to the growing stock market.
Speaking to analysts and the media about the offer, MTN Uganda Chief Executive Officer
Wim Vanhelleputte said that the decision to float shares on the stock market, is part of
MTN’s localization agenda aimed at aligning its company’s priorities more closely with
the development agendas of its operating markets, in particular and the African
continent, as enshrined in the MTN 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.
“During MTN’s 23 years in Uganda, we have grown tremendously, thanks to the enabling
environment availed by the Government of Uganda as well as the unwavering support
and trust of the people of Uganda and East Africa as a whole. 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.
MTN Uganda IPO prospectus approved by the Uganda Capital Markets Authority is
available at www.mtn.co.ug/investors .
