MTN Rwanda will list its shares on the
MTN Rwanda is one of the country's most profitable companies having made a profit of about Rwf6.8 billion in profit after tax in 2019 and total revenue of about Rwf125 billion. In 2018, the firm had a profit of Rwf7.7 billion.
Listing by introduction is often preferred by firms already in another exchange. This occurs when a company lists its existing shares on an exchange.
JUST IN: @MTNRwanda has announced it intends to list shares by way of introduction on the
- The New Times (
Given that said company is listing shares that had already been fully paid for, the aim of listing by introduction is not to raise capital immediately, but could serve the purpose later. It also allows for transfer of ownership.
This will bring the total number of firms on the
MTN Rwanda has two main shareholders,
The development will see the 20 per cent stake held by
While 100 per cent shares of MTN Rwanda will be listed on the stock exchange, the 20 per cent stake held by
"The listing reaffirms our commitment to
The listing is expected to broaden public ownership over time, supporting sustainable growth for national development.
The listing is subject to applicable regulatory and governance approvals as well as conducive market conditions.
The firm is projecting revenue growth in 2020 of about 12 per cent buoyed by increased Mobile Money and data usage.
cmwai@newtimesrwanda.com
Follow https://twitter.com/ByCollinsMwai
Copyright The New Times. Distributed by AllAfrica Global Media (allAfrica.com)., source