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MTN Uganda IPO Raises Around US $ 1.2 Billion – Regulatory Agency

A guest types on their cell phone while sitting under an MTN logo during the launch of their mobile money service in Johannesburg, South Africa, Jan. 30, 2020. REUTERS / Siphiwe Sibeko

KAMPALA, Oct. 5 (Reuters) – Telecommunications company MTN Uganda’s IPO is expected to raise around $ 1.2 billion, Keith Kalyegira, chief executive officer of the Capital Markets Authority, said Tuesday.

MTN Uganda previously announced that it had approval to list 20% of its shares.

Reporting by Elias Biryabarema; Letter from George Obulutsa; Arrangement by Louise Heavens

Our Standards: The Thomson Reuters Trust Principles.

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