MTN Rwanda to List Shares Worth $365 mn on Rwanda Stock Exchange

This announcement follows the approval by the Capital Market Authority (CMA) and the Rwanda Stock Exchange (RSE) of MTN Rwanda’s listing by introduction on the RSE and the approval of Crystal Telecom’s (CTL) shareholders to distribute the 20% of MTN Rwanda’s shareholding held by CTL to CTL shareholders effective from the listing date.

MTN Rwanda Plc, majority-owned by South Africa’s MTN Group,  says it will be listing by introduction on the Rwanda Stock Exchange in May.

This is after it obtained approvals from the Capital Market Authority (CMA) and the Rwanda Stock Exchange (RSE)  and a minority shareholder, Crystal Telecom’s (CTL).

The listing of MTN Rwanda will see 1,350,886,600 ordinary shares with a nominal value of Rwf 1 each being registered with the RSE at an initial listing price of Rwf269 per ordinary share. 

CTL shareholders will become direct shareholders in MTN Rwanda and be able to trade their MTN Rwanda shares on the RSE.

Commenting on the announcement, Mitwa Ng’ambi, CEO of MTN Rwanda, said: “The official listing of MTN Rwanda’s shares on the RSE will take place on 4 May 2021. 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. We are also excited to welcome former CTL shareholders as MTN Rwanda shareholders.”