Jimnah Mbaru firm to construct hefty prices in Uganda telco IPO

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Capital Markets

Thursday October 14 2021

JIMNAH

Dyer and Blair chairman Jimnah Mbaru. FILE PHOTO | NMG

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By BRIAN NGUGI

Extra by this Creator

Abstract

  • MTN Uganda has picked Kenyan funding monetary institution Dyer and Blair to attend with its Initial Public Offering (IPO) guaranteeing the local firm, owned by billionaire businessman Jimnah Mbaru hefty prices.
  • The Sh27.6 billion IPO opened on Monday.
  • Merchants in Kenya can apply for shares by SBG Securities, a subsidiary of South Africa’s Stanbic Holdings Plc and Kenyan funding monetary institution Dyer and Blair which is the lead retail dealer.

MTN Uganda has picked Kenyan funding monetary institution Dyer and Blair to attend with its Initial Public Offering (IPO) guaranteeing the local firm, owned by billionaire businessman Jimnah Mbaru hefty prices.

The Sh27.6 billion IPO opened on Monday.

Merchants in Kenya can apply for shares by SBG Securities, a subsidiary of South Africa’s Stanbic Holdings Plc and Kenyan funding monetary institution Dyer and Blair which is the lead retail dealer.

“MTN Community (has) appointed SBG Securities Uganda Restricted as transaction adviser and lead sponsoring dealer, S&L Advocates as effective advisers, KPMG Certified Public Accountants as reporting accountant, Crested Stocks and Securities Restricted, and Dyer and Blair Uganda Restricted as lead retail brokers and Equity Stockbrokers Uganda Restricted and UAP-Ragged Mutual Financial Services Uganda Restricted as selling brokers,” acknowledged MTN Community within the IPO prospectus.

Brokers construct commissions per shares they promote.

The Industry On each day foundation would possibly possibly perchance also now now not straight build the actual price Dyer and Blair would attract compared to the doable collection of shares supplied.

MTN, on the opposite hand, acknowledged the effective adviser S&L will expend dwelling Sh33 million (UGX1 billion) while the transaction adviser SBG securities will pocket Sh230 million (UGX7.4 billion).

Reporting accountants KPMG will construct Sh10 million (UGX328 million) while MTN pays Sh30.9 million (UGX1 billion) to the Ugandan Capital Markets regulator for approval. Placement prices on the Kampala bourse are whisper at Sh303 million (UGX9.8 billion).

South Africa’s MTN Community is selling 4.47 billion shares in its Ugandan subsidiary at a mark the same to Sh6.2 apiece.

The IPO is delivery to Ugandan investors to boot to voters of other East African Community member states, collectively with Kenya.

MTN Uganda will promote a fifth of its stake to investors.

The telecom, a South African MTN Community subsidiary, has got regulatory approvals to checklist 20 p.c of its shareholding.

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