MTN has stated that the final implementation of the 2016 MTN BEE transaction involving the Zakhele Futhi Ordinary Shares has commenced.
“Zakhele Futhi Ordinary Shares will be allotted and issued to successful applicants on 23 November 2016,” said MTN.
The MTN Zakhele Futhi Public Offer raised approximately R1.094 billion from more than 81,000 applicants, said the network.
“In addition, applications were received from 11,203 qualifying MTN Zakhele Shareholders holding in aggregate 13,479,330 MTN Zakhele Shares to re-invest… equating to approximately R0.817 billion.”
Applications from the “black public and qualifying MTN Zakhele Shareholders” were less than the Target Equity Raise of R2,468.3 million, said MTN.
The total number of MTN Zakhele Futhi Ordinary Shares to be issued and allotted on 23 November is 123,416,822.