MTN may list on the Uganda Stock Exchange

By Published On: August 24th, 2018Categories: IPO News

South African mobile operator MTN is considering listing the company on the Uganda Stock Exchange as part of the conditions for it to renew its operating licence in the country.

Ugandan officials within the Uganda Communications Commission (UCC) have asked the South African operator to list some of its shares on the local bourse so that it may have its operating licence renewed, according to Techcentral.

Selling the shares in Uganda is not a strict precondition for the granting of a new 10-year contract at the moment, but the local regulator may add that as a condition. Before doing so, they have asked MTN to consider listing, giving Ugandans the opportunity to own part of the mobile operator through shares.

With their current licence expiring in October, they are under pressure to seriously consider the Uganda Stock Exchange listing.

MTN is the dominant mobile operator in Uganda with a market share of around 55 percent, representing 10.9 million customers in the country, according to ITWebAfrica.

The MTN Group has over 221 million customers in 22 markets across Africa and the Middle East.

The mobile operator is planning to list shares on stock exchanges in two of its major African markets, Ghana and Nigeria, as part of specific agreements in both countries…

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