It’s no longer in rumors rather official and affirmed that Ugandans are now righteous owners of 15% of MTN Uganda’s shares after a successful accomplishment of the MTN Initial Public Offering to Ugandans.
MTN UG whose Ugandan shareholding structure was at 4% only before IPO (Initial Public Offering), it now stands on firm ground to announce a big shareholding growth from 4% to 15%.
MTN’s initial public offering through listing of the telecom on Uganda Securities Exchange turns out to be a regulatory obligation required by Government of Uganda in issuing operator License for telecom operators.
According to Wim Vanhelleputte, MTN Chief Executive Officer, Some of MTN’s shareholders now stand to be Uganda Revenue Authority staff schemes and NSSF which is the second largest shareholder with 8.8%.
