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KAMPALA, Oct 11 (Reuters) – MTN Uganda, the East African nation’s biggest telecoms operator, said on Monday it had set its initial public offering price at 200 Ugandan shillings ($0.0558) per share.
“The MTN IPO is officially open,” MTN Uganda CEO Wim Vanhelleputte told a news conference in Kampala, urging the Ugandan public to invest, adding that the IPO will close in six weeks.
The firm is offering 20% of its shares to the public. The total number of shares on offer is 4.5 billion, Vanhelleputte said.
A unit of South Africa’s MTN Group, the firm, which has a subscriber base of 15 million and also offers mobile money financial services, won regulatory approval last week to sell 20% of its shares to the public.
($1 = 3,585.0000 Ugandan shillings) (Reporting by Elias Biryabarema; Writing by Maggie Fick; Editing by Edmund Blair and Louise Heavens)