MTN Uganda has today announced that it will be floating 20% of its shares on the Uganda Security Exchange (USE) in compliance with the regulator’s terms on license renewal. The company has made an offer for sale by MTN International (Mauritius) Limited of 4,477,808,848 ordinary shares with a par value of UGX 1 each in the share capital of MTN at an Offer Price of UGX 200 per Offer Share.
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Application period opens (“Opening Date”) 11 October 2021 till 22 November 2021 with a Listing (“Listing date”) of 6 December 2021. The Allocation Policy of the Offer provides that Applications from Ugandan Retail and Professional Investors shall be
given priority, including in the event of Oversubscription.
MTN Uganda has made an application to the USE for the Listing of the Shares on the Main Investment Market Segment of the USE. Admission to the Official List of the USE is expected to become effective on the Listing Date. Application funds paid in respect of any application for Offer, Shares will be returned if the Listing does not become effective.
The USE assumes no responsibility for the correctness of any of the statements made or opinions expressed or reports contained in this Prospectus.
The company says that admission to the Official List is not to be taken as an indication of the merits of the Company or the Shares. The Directors of MTN, whose names are given in Section 10 (Governance and Management) of this Prospectus, collectively and individually accept full responsibility for the accuracy of the information contained in this Prospectus and have taken all reasonable care to ensure that the facts stated, and the opinions expressed in this Prospectus are true and accurate in all material respects, and that there are no other material facts the omission of which would make any statement, whether of fact or opinion, misleading.
The MTN Uganda Offer Shares will carry the right to vote and to participate in all future dividends to be declared and paid on the issued ordinary share capital of the Company. The Offer Shares rank equally with other Shares, are freely transferable and are not subject to any restrictions on marketability or any preemptive rights.
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