in

MTN Launches New R10bn BEE Scheme

Mobile network MTN officially opened up its R9.9bn ‘Zakhele Futhi’ black economic empowerment transaction to the market on Monday.

MTN Zakhele Futhi scheme is taking the form of a public offering where qualifying black participants are invited to subscribe for and beneficially own ordinary shares with a minimum investment amount of R2 000.

The offer has opened on Monday September 12 and closes on October 21.

These shareholders will further be given the opportunity to re-invest a portion of their MTN Zakhele shares in MTN Zakhele Futhi. MTN Zakhele, meanwhile, is expected to unwind on November 24 2016.

“MTN Zakhele Futhi is a special purpose vehicle, which will hold approximately 4% equity in MTN Group,” said MTN last month.In addition, these MTN Zakhele Futhi shares are planned to be issued at R102.80 each

 

 

 

 

Source: Fin24

Loading...

Written by How South Africa

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This Is How Much You Need To Earn To Live In South Africa’s Richest Suburbs

unhappy black couple

Want To Get Pregnant? Eat These 8 Foods