- Customers can now pay up to 20 million shillings for shares
- IPO will close on 22 November
Image: Robert Segawa
MTN Uganda has increased the daily limit of shares one can buy from 5 million to 20 million shillings for the next four days . Wim Vanhelleputte the MTN Chief Executive Officers says the IPO will be closing on Monday 22nd and have decide to increase the number of shares offered following a demand from the customers.
According to Mr. Vanhelleputte the listing of the shares on the Uganda Securities Exchange will commence on Monday the 6th of December.
“Today we are three days away from closing the offer. So we've made it very convenient for any Uganda in particular to participate and we have decided that the daily limit that one can pay for chairs using the mobile phone can now apply and pay for up to 20 million Uganda Shilling per day today, tomorrow Sunday and Monday” he said.
He says this was their customer’s request that came very strongly and have been able to accommodate that request.
“If you apply and pay for your shares using the MTN IPO the MTN platform you do benefit from 10% bonus shares”.
The increase of daily payment limit will mainly benefit the 60,000 Securities central deposit account holders.The company also held a nationwide Roadshow and virtual engagement with potential investors in Kampala, in 50 cities and towns up and down the country. Their team also travelled to Nairobi “to give a chance to our East African Neighbours to fully understand the Dynamics of the MTN, to give them an opportunity to engage with the leadership of the company”.
He further revealed that this being the first IPO in the last seven years there was a lot of Education and explanation that needed to be done. Using technology Wim explained that they were able to engage with hundreds of people via Twitter Zoom and held more than 300 different physical and virtual engagements and the response has been amazing.