Namibia's MTC launches IPO

24 Sep 2021

Mobile Telecommunications (MTC), Namibia’s largest mobile network operator (MNO) by subscribers, has finally kicked off its long-awaited initial public offering (IPO). Shares in the state-owned telco officially went on sale on the Namibian Stock Exchange (NSX) on 20 September with a total of 367.5 million ordinary shares, representing 49% of the company’s capital, offered for sale at NAD8.50 (USD0.58) per share, potentially raising NAD3.124 billion by the closing date of midday on 1 November. According to the IPO prospectus released by the company, applications must be for a minimum of 200 shares and in multiples of 100 thereafter. The official listing on the NSX, under the abbreviated named MTC Limited and share code MOC, is expected to take effect from the start of trade on 19 November. State holding company Namibia Post and Telecommunications Holdings Limited will retain a minimum of 51% of MTC post-listing.

Namibia, Mobile Telecommunications (MTC)