Namibia mobile operator MTC said that its application for primary listing on the main board of the Namibian Stock Exchange (NSX) has been approved. According to MTC Chief Human Capital and Corporate Affairs Officer Tim Ekandjo, 49 percent of the ordinary shares in MTC will be made available to the general public during the public offer, with Namibia Post and Telecommunications Holdings retaining a minimum of 51 percent of MTC post-listing.
The subscription will open on 20 September, and MTC shares are expected to start trading before the end of November. The offer to subscribe for shares is expected to close on 1 November.
Ekandjo said 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. With the listing, MTC will become the first state-owned enterprise to list on the NSX.
