MTC says it’s recording an overwhelming interest for its shares on offer as part of its Initial Public Offering (IPO) which opened on 20 September and due to close on the 1st of November 2021.
MTC’s Chief Human Capital & Corporate Affairs Officer, Tim Ekandjo, however, said despite the high uptake of MTC shares which is currently exceeding expectations, there are still enough shares for every Namibian who wish to apply for them.
“We wish to assure the public that there are still enough shares available for everybody to APPLY FOR,” said Ekandjo
MTC has 367.5 million shares on offer as part of its IPO and selected Namibian institutional investors have provided pre-commitments to subscribe to a minimum of 282,899,160 shares worth N$2,4 billion, at a listing price of N$8.50.
If allocated in full, only 83.6 million shares valued at N$710.6 million will be left for allocation to members of the public.
Shares on offer, equal to a 49% stake in the telco, with majority shareholder, Government through the Namibia Post and Telecommunications Holdings Limited (NPTH) expecting to raise N$3,123,750,000 from the IPO.
