MTN to open $1.2b Uganda IPO to investors in East Africa

An MTN stand at an expo.

An MTN stand at an expo. It has received regulatory approvals to list 20 percent of its shareholding. PHOTO | FILE | NMG

MTN Uganda will sell a fifth of its stake to Kenyan and other East African investors when it floats its initial public offer (IPO) on the Kampala bourse.

The telecom, a South African MTN Group subsidiary, said Tuesday that it had received regulatory approvals to list 20 percent of its shareholding.