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Over N$3 billion expected to be raised through public offering of MTC shares

Over N$3 billion expected to be raised through public offering of MTC shares

The largest proposed listing by a local company since the establishment of the Namibia Stock Exchange (NSX) expects to raise N$3 to 3.5 billion, an executive announced at an event on 3 September.

Telecommunications company, MTC is set to list on the NSX by end of November 2021 and 367.5 million shares are to be made available to the general public, MTC Chairperson Theo Mberirua said at an update event in Windhoek.

“There will be more than enough shares available for Namibians. We encourage everyone to apply for shares and become part of the future,” he said, adding that MTC will officially launch the public awareness campaign as of 6 September.

Speaking at the same event the Minister of Public Enterprises, Leon Jooste said this will be the first Public Enterprise that will be listed on NSX and indications are that will be the largest listing in the history of the country.

Meanwhile, the 367. 5 million shares make 49% of the ordinary shares in MTC, while the Namibia Post and Telecommunications Holdings Limited retains a minimum of 51% of MTC post-listing.

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