Kenyan financial backers warm up to MTN IPO
The proposition which closes on November 22 2021 is presently open to Kenyans and East African financial backers.
Kenyan financial backers are showing distinct fascination with taking part in the MTN IPO following the kickoff of the proposal on October 11 2021 and a progression of financial backer roadshows that occurred in Nairobi last week.
The proposition which closes on November 22 2021 is presently open to Kenyans and East African financial backers.
With 4.4 billion offers on offer, the MTN IPO is the second biggest proposal in the district after Safaricom in Kenya and the main telecom organization to be recorded on the Uganda Securities Exchange.
Talking uninvolved of one of the financial backer gathering, Cynthia Mbaru, Dyer and Blair Investment Bank Director of Corporate Finance, said that it was extremely valuable to have the MTN supervisory group visit Nairobi last week where they drew in market examiners and imminent financial backers on the IPO.
“We facilitated an extraordinary meeting with them for our customers which was exceptionally useful. Our customers had a ton of inquiries with respect to the business and future possibilities. Toward its finish, plainly MTN is an entirely beneficial organization with a solid asset report and great development possibilities. Our customers especially felt that portable cash introduced a ton of chances for MTN considering the effect MPESA had on Safaricom that they have seen,” said Mbaru.
The roadshows were made conceivable after the Kenya’s Capital Markets Authority (CMAK) had given its ‘no issue with’ The MTN Uganda Initial Public Offering (IPO) to be showcased in Kenya, permitting the promoting of the offers to both Professional Investors and Retail Investors following the kickoff of the proposal in Uganda on eleventh October 2021.
The showcasing in Kenya is worked with by SBG Securities, and Dyer and Blair, both of whom are authorized market mediators in Kenya, working as a team with their separate offshoots in Uganda.
SBG Securities Uganda Limited is the Transaction Advisor and Lead Sponsoring Broker for the MTN Uganda IPO and will work together with SBG Securities Limited (Kenya) to showcase the IPO in Kenya. Dyer and Blair Uganda is a Lead Retail Broker.
The MTN Uganda IPO makes available for purchase 4.4 billion normal offers, representing a 20 percent stake of the organization, at a cost of Shs 200.00 per share.
Each forthcoming investor should apply for somewhere around 500 offers, which, if completely apportioned, brings about a base speculation of Shs 100,000 for every investor.
Kenyan financial backers will require a substantial recognizable proof public ID or visa to open a Securities Central Depository (SCD) account at the Uganda Securities Exchange (USE) to apply for the MTN Uganda IPO.
All East Africans who apply for shares, will get 5 extra offers for each 100 offers they are assigned. The MTN Uganda IPO will close on Monday 22nd November 2021 at 4pm EAT.
