MTN Group offers roughly 4% of shares to new black investors

12 Sep 2016

South Africa-based regional telco MTN Group has opened the sale of almost 4% of its capital to new black South African investors. The offer, which is valued at ZAR9.9 billion (USD682 million), is for the sale of ordinary shares in the company which says it aims to ‘enable individuals and historically disadvantaged groups of people to participate in [the] economic life’ of the carrier. Dubbed ‘MTN Zakhele Futhi’, the new capital offering is scheduled to end on 21 October 2016 at 16:00hrs and is being coordinated by NedBank.

South Africa, MTN Group