MTN Uganda Releases Top Shareholders From the Initial Public Offer

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SBG Securities Uganda Limited has released the results for the top shareholders in MTN Uganda following the offer that ran in between 11 October 2021 until 22 November 2021.

The telecommunication company had put up 4,477,808,848 ordinary shares with a par value of UGX 1 of the issued share capital of the company at an offer price of UGX 200 per share. The results indicate that 2,902,003,800 ordinary shares were allocated (sale shares and incentive shares), 21,394 people applied for the offer shares and the total offer proceeds were UGX 535,939,900,000.

Therefore, all successful applicants shall have SCD Accounts credited with the number of offer shares applied for allocated to them by 3 December 2021. This shall come along with the corresponding number of incentive shares that each individual applicant is entitled to in accordance with the terms and conditions the offer detailed in section 18 of the prospectus.

As for unsuccessful applicants, they will be notified individually and will have their application funds refunded within 14 days from 3 December 2021.

Following the offer and immediately prior to the listing, the top ten shareholders of MTN Uganda are MTN International (Mauritius) Limited, 83.05%, National Social Security Fund, 8.84%, Charles Mbire, 3.99%, National Social Security Fund-Sanlam, 0.26%, Bank of Uganda Defined Benefits Scheme-Sanlam, 0.19%, National Social Security Fund (Kenya), 0.18%, Duet Africa Opportunities Master Fund IC, 0.13%, EFG Hermes Oman LLC, 0.12%, First Rand Bank Limited, 0.10%, Uganda Revenue Authority Staff Benefit Scheme-Sanlam, 0.08% and Other shareholders 3.06%.

MTN Uganda has created a web-based hub to provide continuing shareholders and investor education after the Listing. Additional information may be obtained at:

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