Investors Bought 64% Of The Shares In The MTN IPO

MTN Uganda managed to raise 16.94 billion shillings, an equivalent to 535.9 billion Ugandan Shillings in the just-concluded IPO that gave investors across the East African region an opportunity to own a piece of the company.

The company had targeted to raise 27.6 billion shillings from the sale of 4.47 billion shares that had been flooded. The shares were deeply discounted as part of MTN to attract more investors to buy into it.

The Kenya National Social Security Fund (NSSF) bought 39.1 million shares for a 0.18 stake becoming the sixth top shareholder.

Here are the other top shareholders after the IPO:

“The Offer commenced on 11 October 2021 and closed on 22 November 2021 and was conducted by way of an offer for sale of 4 477 808 848 ordinary shares with a par value of UGX 1 each in the issued share capital of the Company at an offer price of UGX 200 per share,” said MTN in a statement.

Read More: Why MTN IPO Is Worth Betting On