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MTN Uganda IPO to raise almost double amount raised since capital market started -regulator

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A guest types on his mobile phone as he sits below an MTN logo during the launch of its mobile money service in Johannesburg, South Africa, January 30, 2020. REUTERS/Siphiwe Sibeko

KAMPALA, Oct 5 (Reuters) – Telecoms firm MTN Uganda’s initial public offering is expected to raise almost double what Uganda’s capital market has raised since its inception, Keith Kalyegira, CEO of the Capital Markets Authority said on Tuesday.

The Uganda Securities Exchange says it has raised $623 million since its inception in 1998.

MTN Uganda said earlier it had approval to list 20% of its shareholding.

(This story corrects reference to the figure to be raised)

Reporting by Elias Biryabarema; writing by George Obulutsa; editing by Louise Heavens

Our Standards: The Thomson Reuters Trust Principles.

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