Listing of the Mobile Telecommunications Limited (MTC) for its primary listing on the main board of the Namibian Stock Exchange (NSX) has been approved by the NSX.

MTC, in a media statement issued on Friday, announced that the prospectus was registered by the Registrar of Companies on 19 August 2021, in terms of section 155 of the Companies Act, Act No. 28 of 2004.

“This is the largest proposed listing by a Namibian company since the establishment of the NSX. 49 per cent of the ordinary shares in MTC will be made available to the general public during the public offer, with the Namibia Post and Telecommunications Holdings Limited, retaining a minimum of 51 per cent of MTC post listing,” it reads.

It is anticipated that the prospectus will open on 20 September 2021, and that MTC will be listed before the end of November 2021.

“The listing will provide an opportunity for all MTC customers, staff, stakeholders and the public, in general, to acquire MTC shares and participate in the ownership of MTC. In the event that the public offer is oversubscribed, the order of the allocation process will first be to previously disadvantaged Namibians, then to MTC staff and customers, followed by Namibian natural persons and corporates and finally to Namibian Institutions, Southern Africa Development Community and international investors,” the statement adds.

Source: Namibia Press Agency