MTN Uganda launches initial public offer (IPO) in Adjumani district

ADJUMANI, UGANDA: It was a sunny day in Adjumani town as the sun was marching its direction to the west to go to bed as MTN subscribers in Adjumani town were pouring in town towards to Zawadi Hotel Adjumani to register and enter to attend to the MTN Initial Public Offer (IPO) workshop.

As stated “the early bird catches the fattest worm” those who went early were busy attending to the lectures as others who came late were meant to wait as the sound system crew were assembling their machines. 

Mtn Uganda is one of the largest telecommunication network in Africa, the main purpose of their workshop is to share facts about their services, share prospects for future growth, according to Mr. Samuel Giti, Northern Uganda has taken over 70% of MTN usage in Uganda.

The offer for the shares, MTN is giving out to its clients is about 4, 477, 808,848 ordinary shares to the public, according to them the price of 1 share is UGX 200 and any Ugandan can apply to buy shares for as low as UGX 100,000 of which a minimum number of shares per application is 500. The special incentives for all Ugandan individuals applying for MTN shares include 10 bonus shares for every 100 shares applied for using MTN Momo via USSD or MyMTN app and 5 bonus shares for every 100 shares applied for using other methods of application e.g. paper applications or via the USE portal.

MTN is a leading mobile operator in Uganda. According to the UCC Market Report Q2 2021, the number of telephone subscriptions in Uganda stood at 28, 986, 019 as of 30 June 2021. The company’s reporting data as of 31 Dec 2020 indicates that of these industry-wide subscriptions, 14.2Million are MTN customers of which 30-day active data subscribers. In the mobile money market, MTN has approximately 8.5 million active 30-day MTN mobile Money subscribers. MTN Uganda earns 52% on voice calls, 25% on Mobile money, and 18% on the internet and are on the verge of going higher with their services. 

According to Charles Mbire, the MTN board chairperson of Uganda said that “MTN has had an incredibly positive journey in Uganda during which time has contributed immensely to the country’s economic and social development and growth in telephone density. MTN is inspired by the belief that everyone deserves the benefits of a modern connected life and is committed to changing lives by improving digital access, driving financial inclusion and broad community development under the term “we are Good together”

MTN Uganda started operating in 1998. In the first half of 2021, it had 14.9 million subscribers, 8.6 million Mobile Money users and 4.7 million active data users.

For one to access the shares services, he/she needs to get in touch with the brokers or selling agents like Sbg securities Uganda ltd, Crested capital, equity stock brokers, dyer & Blair among others.