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MTC is listed on the Namibia Stock Exchange

 


The first digital facilitator, MTC, at a Ring a Bell Initial Public Offering (IPO) ceremony, officially started its new life as a Namibian public company fully listed on the Namibia Stock Exchange (NSX).

The listing, which is the largest by a local company and the first by a state-owned company, saw MTC sell a 49% stake in its company to the public through an IPO, raising N $ 2.541 billion. .

Welcoming the successful registration of MTC, the Minister of Public Enterprise, the Hon. Leon Jooste reiterated that the government’s decision to put the lucrative telecommunications entity on the list is aimed at expanding national economic empowerment through ordinary Namibians’ ownership of a profitable state-owned enterprise; develop the Namibian financial sector as it is essential for economic development; and freeing up maximum shareholder value and hence liquidity for the tax authorities, whereby the participation of institutional and retail investors is encouraged through the creation of opportunities for government investment in the economy.

Meanwhile, according to NSX, all minimum spread and float requirements for a motherboard listing, as required under NSX listing requirements, have been met.

The free float of MTC on the listing will be 39.9%. The NSX has approved the listing of all of MTC’s issued common shares on the NSX with effect from 9 a.m. on Friday, November 19, 2021, they concluded.

Namibian economist

Sources

1/ https://Google.com/

2/ https://www.african-markets.com/en/stock-markets/nsx/mtc-lists-on-the-namibian-stock-exchange

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