More Africa NewsNamibia: MTC receives approval to list 49% of ordinary shares

August 24, 2021by myles0

Mobile Telecommunications (MTC), Namibia’s largest mobile network operator (MNO) by subscribers, has announced that its application for a primary listing on the main board of the Namibian Stock Exchange (NSX) has been approved.

In a statement issued on 20 August, MTC confirmed 49% of the ordinary shares in the company will be made available to the general public during the public offer, with state holding company Namibia Post and Telecommunications Holdings Limited retaining a minimum of 51% of MTC post-listing. It is anticipated that the prospectus will open on 20 September and that MTC will be listed before the end of November 2021. In the event the public offer is oversubscribed, shares will first be allocated to previously disadvantaged Namibians, then to MTC staff and customers, followed by Namibian natural persons and corporates and finally Namibian institutions, SADC and international investors.

Source: Commsupdate

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