On December 6th, 2021, MTN Uganda Limited listed and commenced trading of its 22.4 billion ordinary shares on the Uganda Securities Exchange (USE). This was after the listing receiving the requisite approvals from the regulator, Capital Markets Authority (CMA) and the USE. The MTN share sale is to date Uganda’s largest initial public offering raising a record UGX535 billion from applications for 2.9 billion shares (including incentive shares). Following the IPO, MTN Group’s holding in Uganda’s largest telecom operator reduced to 83.05%. Perhaps most importantly, and in line with the objective for listing, Ugandans and Ugandan entities own 15% of the…
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