Mobile operator MTN will today close its offer to the public to participate in its MTN Zakhele BEE share offer.
The operator opened the public share offering on 30 August, to run for six weeks, and it is set to end by close of business today.
The offer essentially allows black individuals and groups or black-owned businesses to purchase MTN shares at R20 a share for a minimum of 100 shares.
The operator will use the funds raised, plus a R1.2 billion cash injection from MTN, to buy 321 million MTN ordinary shares.
MTN has not yet released figures regarding the uptake of the offering, or commented on whether it will extend the deadline for the offer. However, the operator has confirmed the response from the public has been overwhelming.
“Transaction volumes recorded during the first week of the offer show huge interest in the MTN Zakhele share scheme, with almost 100% of individual and group (businesses) investors who lodged their Zakhele share applications actually paying for the shares when submitting their application forms,” says the company.
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