MTN takes IPO’s sensitization campaign to Lira city
By Isabella Awor Olong
Lira – 27, October 2021: MTN Uganda on Wednesday engaged with people in Lira city regarding its ongoing Initial Public Offer (IPO).
The meeting’s ultimate goal was to create massive awareness and to encourage the locals to participate in the offer.
MTN Uganda has offered shs4.5billion in ordinary shares in their first ever IPO in Uganda. The shares on offer are equivalent to 20% of the MTN Uganda businesses which includes the voice and data services together with MTN Mobile Money Uganda Limited.
MTN Uganda alongside senior brokers, representatives from Standbic Bank Group and others provided other vital information about the MTN offer of shares and the stock market overview.
Enid Edroma is the general manager Corperate Services who doubles as the company’s secretary MTN Uganda. She said the offer will go on for six weeks until Monday 22 November 2021.
“Ugandan investors can apply for shares for as low as UGX100.000,” she told Lira people.
She added that individual Ugandan investors who apply using MTN MoMo gets 10 extra shares for every 100 shares they apply for.
Joan Pacuoto, former Resident District Commissioner of Lira applauded MTN for the initiative they are offering to the community. She promised to buy shares in order to gain profit.
Pacuto urged the community to join the initiative and also see what will come out of it.
Lucy Owino, a resident of Lira city told TND News she has opened an account with MTN. According to her, “This service is going to be of much benefit to the public and my grandchildren.”
“It feels so good to be a shareholder in a company like MTN. I urge the public to welcome the initiative,” she told our reporter.
The IPO comes at a time MTN Uganda is making 23years in the country. In 2020, MTN Uganda was issued a new 12year license by the Uganda Communications Commission (UCC) and the company has committed to invest about UGX1 trillion to augment its networks and customer experience over the coming years.
A share is valued at UGX 200 with a minimum order quantity of 500 shares per investor.