South Africa’s MTN Group has made a new offer to sell 1.57 billion shares in its Ugandan subsidiary at a substantial discount in a bid to comply with a requirement to offload a minimum stake of 20 percent to minority investors.
The multinational managed to sell a 12.97 percent stake in MTN Uganda in November 2021 through an initial public offering (IPO) that was priced at Ush200 (Ksh7 at current exchange rates).
