MTN Group will list its Rwandan subsidiary on the Rwanda Stock Exchange (RSE) on 4 May, the JSE-listed telecommunications giant said on Monday.
This follows approval by the Capital Market Authority and the RSE the listing by introduction on the stock exchange as well as the approval of Crystal Telecom shareholders to distribute the 20% of MTN Rwanda’s shareholding held by Crystal to its shareholders effective from the listing date.
The listing of MTN Rwanda will see 1.35 billion ordinary shares with a nominal value of Rwf1 each being registered with the RSE at an initial listing price of Rwf269/share. Crystal Telecom shareholders will become direct shareholders in MTN Rwanda and be able to trade their MTN Rwanda shares on the RSE.
MTN Rwanda is the market leader in mobile telecoms in the East African nation. — © 2021 NewsCentral Media
