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    m-IPO: How Ugandans can apply for MTN shares from the comfort of their homes

    MTN Uganda announced the opening of its mobile initial public offer (m-IPO) of 20% of its ordinary shares, following approvals by the Capital Markets Authority of Uganda (CMA) and the Uganda Securities  Exchange (USE). 

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    ALSO READ: President commends MTN’s upcoming IPO and investments

    The secondary sale of 4.4 billion shares by the MTN Group will be at an offer price of UGX200 per share. The offer opened, Monday 11 October 2021, and will close on Monday 22 November 2021. MTN Group currently holds 96% of MTN Uganda.

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    As a bonus, MTN is giving out 5 bonus shares for every 100 shares applied for using traditional application channels and 10 bonus shares for every 100 shares applied for using the m-IPO via USSD or the  MyMTN app.

    How to apply for m-IPO shares

    First of its kind m-IPO where Ugandans can apply for their shares through their MTN mobile phones from the comfort of their homes. To get started follow the instructions below.

    Simply dial *165*65#. Select 2 for apply for MTN shares 

    At that point, you will be reminded to read the prospectus, thereafter you can proceed to select ‘1’ for ‘Buy MTN Shares for self.

    You will then be prompted to enter your SCD account details and subsequently a list of share values will be revealed.

    These vary between 500 shares (UGX100,000) to 2500 shares (UGX5million). If your share value option is not listed, you are allowed to make multiple entries until the required value is attained.

    Upon selection of the required value, you will be required to enter your pin number to confirm the transaction.

    The system will again ask whether you have read the prospectus. 

    When you confirm that you have read it, by pressing 1, your application will be submitted and a confirmation SMS and application ID will be sent to you for reference. 

    Applying for shares via My MTN APP

    For those with smartphones, you can download the My MTN app, select Uganda Securities Exchange. 

    This will redirect you to get the MOMO application. There you will select Uganda Securities Exchange which will take you to another window querying whether you have an existing SCD account or not. 

    If you don’t, please select the No SCD account option and follow prompts to open one instantly.

    If you do, please select existing SCD account holder then choose apply for MTN shares. 

    Follow prompts to apply for the shares. 

    Please note that there is a threshold amount of a daily limit between UGX 100,000 –UGX 5 million. 

    Here is a list of licenced brokers working on the MTN IPO 

    MTN says that Ugandan individual investors will be considered first in case the number of applications is more than the number of shares offered. Ugandan individuals will receive guaranteed shares up to UGX 5 million with the full number of bonus shares that they are entitled to. If an m-IPO application is not successful or in case of partial allotment, all payments will be refunded through the same channel, free of charge.

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    IN THIS STORY STREAM

    Farooq Gessa Mousal
    Farooq Gessa Mousal
    Techjaja: CTO

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