Published On: Mon, Oct 17th, 2016

MTN Zakhele offer extended amid demand

MTN Group

MTN Group

JOHANNESBURG, (CAJ News) – MTN has extended the offer period of its Zakhele Futhi share scheme by a week to October 28because of rising demand by prospective investors.

MTN Zakhele Futhi is the mobile network operator’s proposed R9,9 billion (US$702 million) broad-based empowerment transaction announced in August.

Johannesburg-based MTN said the extension would enable MTN Zakhele Shareholders, who wish to elect Ordinary Shares, additional time to complete their Re-Investment Offer election process, which includes completing their applications at a participating Nedbank branches.

“Potential new investors (Cash Applicants) and MTN Zakhele Shareholders are thus being afforded an additional week to participate in the MTN Zakhele Futhi Offer and are encouraged to complete their applications and/or elections as soon as possible,” MTN stated on Monday.

MTN Zakhele Futhi Ordinary Shares allocated on November 23.

Over 123 million MTN Zakhele Futhi ordinary shares have been made available.

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.

CAJ News

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