Mobile Telecommunications Limited (MTC) released their prospectus for their initial public offering (IPO) in which they plan to issue a maximum of 367.5million ordinary shares at an offer price of 850cps, which will make it the largest listing in the Namibian Stock Exchange’s(“NSX”)history. Applications open today and will close on the 1stof November,withthe listing anticipated to take place on 19November. The prospectus highlights that selected Namibian institutional investors provided pre-commitments to subscribe for a minimum of 282.9 millionshares at the listing price of 850cpsahead of the IPO,although it should be noted that individual (retail) investors will be given preferential allocation.
