Gulu ready to embrace MTN's IPO
For two days last week, hundreds of people in Gulu city attended the MTN Initial Public Offer (IPO) town hall sessions at the Acholi Inn, a sign that they are willing to buy into the leading telecommunications firm.
Similar IPO meetings are currently happening simultaneously in Tororo, Kyenjojo, Kiruhura and Kalisizo in Masaka, spear headed by the MTN leadership team and its brokers namely, SBG securities, Dyer and Blair and Crested Capital.
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The Gulu MTN IPO Town hall sessions follow a series of successful similar engagements in Kampala, Wakiso, Jinja, Kamuli, Iganga, Mbarara, Apach, Lira and Fort Portal among others.
More Town hall sessions will be conducted by the MTN leadership team alongside its brokers from SBG securities, Crane Capital and Dyer and Blair to cover the length and breadth of the country before the IPO closes on Monday 22nd November 2021.
Enid Edroma, the MTN Uganda Corporate Services General Manager said that the massive awareness campaign seeks to reach as many Ugandans as possible to enable them participate in the ownership of the company that they have supported for the last 23 years.
"After 23 years in Uganda, having many Ugandans own stake in MTN will drive our agenda of shared growth between MTN and the people of Uganda, a country we call home. We want Ugandans of all walks of life to participate in this IPO; that way, our bond will only get stronger as our roots grow deeper in Uganda," Edroma said.
Edroma said that with a share price of Shs 200 per share and a minimum investment requirement of 500 shares, investors can become shareholders in MTN for as low as Shs 100,000.
"With its fair pricing of the shares, MTN is aiming at further championing inclusion through making it possible for more Ugandans to participate in its IPO, thereby democratizing and bolstering the country’s capital markets," he said.
The MTN Mobile IPO (m-IPO) is the first digital portal in Uganda that allows the public to apply for shares using their phones at their own convenience, with no costs involved in using the m-IPO platform.
The introduction of the m-IPO stems from MTN’s commitment towards ensuring inclusion and accessibility of services to its customers who can simply dial *165*65# to apply for shares in the telecom using MTN Mobile Money.
In resonance with Edroma’s message, the brokers called onto the people of Gulu to seek information, understand the opportunity and possible risks in the venture in order to make informed decisions. The public can access the MTN prospectus by visiting www.mtn.co.ug/investors
Beyond the m-IPO, other traditional payment channels are also available across Uganda at MTN service centres, Stanbic Bank, Absa Bank and Standard Chartered Bank branches.
The MTN IPO opened on Monday 11th October 2021 and will close on Monday 22nd November 2021.
