MTN, LICENSED BROKERS KICK OFF COUNTRYWIDE AWARENESS TOUR INVITING UGANDANS TO APPLY FOR SHARES
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By Joel Mugabi
Leading telecommunications company MTN Uganda and senior broker representatives from SBG Securities and Crested Capital have begun a nationwide MTN IPO awareness tour aimed at creating awareness and providing vital information about the MTN offer of shares and the stock market to communities across Uganda.
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MTN IPO nationwide awareness is intended to equip the public with necessary information to enable them participate in the on-going MTN IPO. The tour is part of MTN’s broader ‘Uganda is Home’ campaign through which the telecommunication giant seeks to further deepen its roots across the country by offering Ugandans ownership in one of the country’s largest companies.
In attendance was the Jinja Resident City Commissioner (RCC) Elijah Madoyi who commended MTN for extending the IPO sensitization to the people of Jinja. The initiative to take the IPO closer to Ugandans follows MTN’s announcement of its intention to list 20 per cent (worth Shs4.5bn) of its ordinary shares and the subsequent opening of the offer on Monday, October 11, 2021, after approvals by the Capital Markets Authority of Uganda. The offer will close on Monday, November 22, 2021.
MTN is offering shares at Shs200 per share with a minimum order quantity of 500 shares which means Ugandans can become shareholders in MTN Uganda with an investment of as low as Shs100,000. This affordable offer of shares by MTN, coupled with juicy incentives, is aimed at democratizing the capital market and making it as easy as possible to apply for shares through MTN MoMo.
While conducting the first townhall at the Source of the Nile Hotel, Wim Vanhelleputte, the MTN CEO, said that the ongoing MTN IPO is aimed at giving all Ugandans an opportunity to become part owners of the country’s leading telecommunications and mobile money operator and, in doing so, help democratize and bolster Uganda’s capital market.
“The MTN IPO is a people’s IPO. It is mostly targeting Ugandan individual investors, giving every Ugandan a chance to own a stake in MTN Uganda for as low as UGX100,000. MTN has also made the process of application (for shares) easy and affordable through MTN MoMo,” Vanhelleputte said, adding that applications for shares using MTN MoMo are free of any extra charges.
Vanhelleputte also noted that to further drive more participation by Ugandans, the IPO has special incentives for Ugandans who apply. “All Ugandan individuals applying for MTN Shares through MTN MoMo (via USSD or MyMTN app) will receive an incentive of 10 bonus shares for every 100 shares applied for,” said the CEO.
“Individuals applying for shares using other methods like Uganda Securities Exchange (USE) portal or paper applications will also get an incentive of 5 bonus shares for every 100 shares they apply. In case of over-subscription of MTN IPO, Ugandan individuals will be considered first.”
MTN and the brokers will hold over 300 meetings across the country to sensitize the public about the opportunity to own shares in the company.
Following similar engagements held in Kampala over the last two weeks, the regional town halls kicked off yesterday with public engagements in Jinja, Mityana, Lyantonde, Apac, Lugazi and Mukono.
Today, the teams will conduct similar sessions in Mbarara, Lira, Mubende, Gayaza and Kayunga before proceeding to even more towns across the country.
The MTN IPO awareness tour will cover the districts of Jinja, Kamuli, Iganga, Busia, Tororo, Mbale, Kapchorwa, Moroto, Soroti, Kumi and Pallisa, Apac, Lira, Gulu, Kitgum, Adjumani, Moyo, Arua, Nebbi, Koboko, Wakiso, Mukono, Kayunga, Bombo, Luwero, Mpigi, Sembabule, Kalisizo, Masaka, Kalangala, Entebbe, Mityana, Mubende, Fortportal, Kasese, Kyenjojo, Hoima, Kiboga, Masindi, Kigumba, Bweyale, Lyantonde, Mbarara, Bushenyi, Ishaka, Kiruhura, Ibanda, Kabale, Kisoro and Ntungamo, among others. (For comments on this story, call, text or whatsapp us on 0705579994, 0779411734, 0200900416 or email us email@example.com).