The listing has received the requisite approvals from the Capital Markets Authority in Uganda and the USE. It follows the successful completion of the largest initial public offering in Uganda’s history, raising a record UGX535 billion from applications for 2.9 billion shares (including incentive shares). The listing reduces the ownership of MTN Group in MTN Uganda from 96% to 83.05%. It is in line with MTN Group’s strategic priority to create shared value, partly through ensuring broad-based ownership in all operating subsidiaries. This aligns with the Ugandan Communications Commission’s new licensing requirement for broad-based ownership by Ugandans, with a compliance deadline of mid-2022. “We commend all the regulators for their support in our work to become a USE-listed company and to comply in a timely manner with the listing provisions of the national telecommunications operators’ licence,” he added. MTN Uganda CEO Wim Vanhelleputte was also in a celebratory mood: “Today marks the conclusion of a remarkable journey which has given over 20 000 Ugandans the opportunity to become owners of MTN Uganda.” “We are particularly proud of our digital m-IPO collaboration with the USE, an African first. More than 93% of the applications were made via the m-IPO platform, with the majority of these investors new market participants,” he added. Feature image: Caption: L-R(Paul Bwiso, CEO USE, Dr Chris Baryomunsi, the Minister of ICT, Charles Mbire, chairman MTN Uganda, Anne Juuko CEO Stanbic Bank, South African High Commissioner to Uganda Her Excellency Lulama Mary-Theresa Xingwana, Wim Vanhelleputte, MTN Uganda CEO, Richard Byarugaba MD NSSF ring the bell symbolising MTN Uganda has joined the USE and trading of its shares has officially begun.
