MTN Rwandacell will list on the Rwanda Stock Exchange (RSE) on May 4 following approval by the Capital Market Authority (CMA) and the Rwanda Stock Exchange (RSE).
The listing of MTN Rwanda will see over 1 350 886 600 ordinary shares with a nominal value of Rwf1 each being registered with the RSE at an initial listing price of Rwf269 an ordinary share.
Shareholders of Crystal Telecom (CTL) have also approved the distribution of the 20% of MTN Rwanda’s shareholding held by CTL to CTL shareholders effective from the listing date.
CTL shareholders will become direct shareholders in MTN Rwanda and be able to trade their MTN Rwanda shares on the RSE.
“We look forward to participating in the capital markets of Rwanda and see this as an exciting opportunity for the investor community at large to participate directly in the ownership of MTN Rwanda,” said MTN Rwanda CEO Mitwa Ng’ambi.