MTN Uganda moves forward with initial public offering
The unit will become the latest of MTN’s Africa businesses to list on a local exchange
MTN is planning to list its Uganda business on that country's stock exchange, another move in its ongoing strategy to increase local ownership in its operating companies and meet its licence obligations.
MTN Uganda said on Tuesday it would proceed with an initial public offer (IPO) on the Uganda Securities Exchange after receiving approval from the country's Capital Markets Authority (CMA) and Uganda Securities Exchange. It plans to offer 20% of its shareholding in the business to the public, reducing its stake from 96%. ..