Trading in MTN Zakhele shares has been temporarily suspended until further notice, due to technical issues experienced from high volumes of trade.<\/p>\n
“The level of interest has exceeded expectations, and as a result the trading platform has experienced some delays and technical difficulties on an intermittent basis,” MTN Zakhele Chaiman, Thulani Gcabashe said in a statement.<\/p>\n
\u201cWe ask for patience during the first week of trade to find a permanent solution to intermittent technical difficulties we have been experiencing due to a rush of demand and high number of calls to the call centre.\u201d<\/p>\n
According to the the MTNZ online trading platform, the last trade took place on 26 November. The market remains closed.<\/p>\n
MTN Zakhele owns approximately 4% of MTN Group\u2019s total issued ordinary shares.<\/p>\n
The ordinary shares in MTN Zakhele are owned by approximately 120,000 black investors.<\/p>\n
An invitation was originally issued to the black public (individuals and groups) to participate in the growth of the MTN Group through subscribing for MTN Zakhele shares at R20 a share, with a minimum purchase of 100 shares for R2,000 in order to qualify.<\/p>\n
The offer generated widespread interest across South Africa, raising R2.78 billion from black investors, a subscription level of 1.7 times.<\/p>\n
MTN Zakhele finally gets trading date<\/strong><\/a><\/p>\n Shareholders to MTN Zakhele: Where\u2019s our return?<\/strong><\/a><\/p>\n MTN Zakhele still mum on trading details<\/a><\/strong><\/p>\n