{"id":50218,"date":"2013-11-28T14:41:03","date_gmt":"2013-11-28T12:41:03","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=50218"},"modified":"2013-11-28T15:29:27","modified_gmt":"2013-11-28T13:29:27","slug":"mtn-zakhele-to-resume-trading","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/50218\/mtn-zakhele-to-resume-trading\/","title":{"rendered":"MTN Zakhele to resume trading"},"content":{"rendered":"
\n

Trading in MTN Zakhele shares\u00a0will resume on Monday 2 December, having been \u00a0suspended on Wednesday due to technical issues experienced through high volumes.<\/p>\n

Trading will commence\u00a0at 9am through the\u00a0online trading platform and call centre, MTN said.<\/p>\n

Trade launched on Monday 25 November, and by the end of the first day, approximately 93,000 MTN Zakhele\u00a0shares with a total value of R8.1 million changed hands. MTN Zakhele closed at R84 per share.<\/p>\n

MTN noted that 63,917 calls were made to the call centre and there were 22,385 unique visits to the website. On the\u00a0second day over 100,000 shares to the value of R7.8 million were traded, with 79,000 calls to the\u00a0call centre and 25,000 visits to the website.<\/p>\n

The MTN Zakhele shares closed at R80 per share on\u00a0Tuesday. All trades that took place were efficiently matched and executed, the mobile operator said.<\/p>\n

Due to the “unprecedented interest in buying and selling these shares”, MTN said it took the decision to\u00a0suspend trading on Wednesday to add capacity and re-test the system prior to the resumption of\u00a0trade.<\/p>\n

\"Thulani<\/a>

Thulani Gcabashe<\/p><\/div>\n

\u201cTo protect the traders, we are endeavouring to ensure that the system is sufficiently robust\u00a0to accommodate the incredibly high demand.”<\/p>\n

“We are also taking steps to increase capacity at the\u00a0call centre to handle the massively increased calls – from 4,500 per day in the previous week to over\u00a079,000 per day the next,”\u00a0said MTN Zakhele chairman Thulani Gcabashe.<\/p>\n

“The team is working round the clock to attend to these matters and to re-test\u00a0the system. We are committed to opening trade again at 9am on Monday morning, rather than having\u00a0a system that is intermittently overloaded.”<\/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

More on\u00a0MTN Zakhele<\/h3>\n

MTN Zakhele share trade suspended<\/strong><\/a><\/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

MTN FY adj HEPS seen 41.8% \u2013 46.8% higher<\/a><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Trading in MTN Zakhele shares will resume on Monday 2 December, having been suspended on Wednesday due to technical issues experienced through high volumes.<\/p>\n","protected":false},"author":10,"featured_media":50228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[26,28,6391,6773],"class_list":["post-50218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile","tag-headline","tag-mtn","tag-mtn-zakhele","tag-thulani-gcabashe"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/50218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=50218"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/50218\/revisions"}],"predecessor-version":[{"id":50226,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/50218\/revisions\/50226"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/50228"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=50218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=50218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=50218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}