MTN Uganda offers Kenyans free IPO shares

A vendor holds mobile phones and airtime scratch cards at a Mobile Money stall operated by MTN Group Ltd. on a street in Kigali, Rwanda, on Wednesday, Sept. 18, 2013. Coffee-producing Rwanda's economy has doubled in size in the nine years through 2010, according to the World Bank. Photographer: Will Boase/Bloomberg


Business Daily | by Victor Juma


Kenyan investors have been offered free shares to motivate them to buy stock in telecoms firm MTN Uganda that opened its Sh27.6 billion initial public offering (IPO) yesterday.

South Africa’s MTN Group is selling 4.47 billion shares in its Ugandan subsidiary at a price equivalent to Sh6.2 apiece…

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