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MTN and the lead broker representatives adress the press in Gulu
For the second day in a row, hundreds of people in Gulu city have continued to attend the MTN Initial Public Offer (IPO) town hall sessions that have been happening at the Acholi Inn since yesterday. The Gulu town hall sessions that started yesterday shall end today and subsequently proceed to Kitgum and Adjumani before crossing over to the West Nile districts of Nebbi, Arua, Koboko and Moyo next week.
MTN’s Enid Edroma conducts one of the MTN IPO sessions at Acholi Inn in Gulu city Capital.
Two town hall sessions were successfully held in the same venue yesterday, with many attendees turning up for the educative sessions aimed at equipping them with the necessary information to ensure a massive local participation of Ugandans in MTN’s IPO.
Similar IPO meetings are currently happening simultaneously in Tororo, Kyenjojo, Kiruhura and Kalisizo in Masaka, spear headed by the MTN leadership team and its brokers namely, SBG securities, Dyer and Blair and Crested
Stock brokers assist the townhall attendees in setting up their SCD accounts ahead of the presentation
The Gulu MTN IPO Town hall sessions follow a series of successful similar engagements in Kampala, Wakiso, Jinja, Kamuli, Iganga, Mbarara, Apach, Lira and Fortportal districts among others. More Town hall sessions will be conducted by the MTN leadership team alongside its brokers from SBG securities, Crane Capital and Dyer and Blair to cover the length and breadth of the country before the IPO closes on Monday 22nd November 2021.
one of the town halls held at Acholi inn in Gulu City yesterday, Enid Edroma, the MTN Uganda Corporate Services General Manager said that the massive awareness campaign seeks to reach as many Ugandans as possible to enable them participate in the ownership of the company that they have supported for the last 23 years.
“After 23 years in Uganda, having many Ugandans own stake in MTN will drive our agenda of shared growth between MTN and the people of Uganda, a country we call home. We want Ugandans of all walks of life to participate in this IPO; that way, our bond will only get stronger as our roots grow deeper in Uganda,’ Edroma said, adding that the MTN IPO is also open to non-MTN customers.
Edroma further noted that with a share price of UGX200 per share and a minimum investment requirement of 500 shares, investors can become shareholders in MTN for as low as UGX100,000.
“With its fair pricing of the shares, MTN is aiming at further championing inclusion through making it possible for more Ugandans to participate in its IPO, thereby democratizing and bolstering the country’s capital markets,” Edroma added, noting that individual investors who apply for shares using the m-IPO will get 10 bonus shares for every 100 shares.
The MTN Mobile IPO (m-IPO) is the first digital portal in Uganda that allows the public to apply for shares using their phones at their own convenience, with no costs involved in using the m-IPO platform.
The introduction of the m-IPO stems from MTN’s commitment towards ensuring inclusion and accessibility of services to its customers who can simply dial *165*65# to apply for shares in the telecom using MTN Mobile Money.
In resonance with Edroma’s message, the brokers called onto the people of Gulu to seek information, understand the opportunity and possible risks in the venture in order to make informed decisions. The public can access the MTN prospectus by visiting www.mtn.co.ug/investors
Beyond the m-IPO, other traditional payment channels are also available across Uganda at MTN service centres, Stanbic Bank, Absa Bank and Standard Chartered Bank branches.
The MTN IPO opened on Monday 11th October 2021 and will close on Monday 22nd November 2021.