The prospectus is now available on the company’s website, www.mtn.com.
The shares are at R20 per MTN Zakhele Futhi share.
The minimum investment amount required to apply for MTN Zakhele Futhi shares is R2 000.
MTN Zakhele Futhi, the group’s proposed special purpose empowerment vehicle, further reaffirms MTN’s commitment to transformation, the company stated.
It provides the opportunity for historically disempowered black South Africans to subscribe for shares in MTN Zakhele Futhi which, in turn, will acquire shares in MTN at an effective 20 percent discount to the transaction price.
MTN Zakhele Futhi is potentially valued at up to R9,9 billion.
MTN Group Executive Chairman, Phuthuma Nhleko, says transformation and empowerment remain at the core of MTN’s ethos and culture.
“This new transaction, together with the continued recognition of the contribution of the MTN Zakhele scheme, will – if fully subscribed – immediately translate to an effective indirect black ownership in excess of 30 percent of MTN’s South African operations under relevant industry transformation charters.”
– CAJ News