Uganda tycoon Charles Magezi Mbire is a happy man following the successful listing of MTN Uganda Ltd on the Uganda stock exchange . Mbire is one of the biggest shareholders in the telecom giant now boasting of a subscribers base of 11 million Ugandans connected on the network .
“We are delighted with the successful completion of the offer. It clearly shows the confidence that Ugandans and other investors have in the company, its brand and its strategic intent,” said Mbire who is also the MTN Uganda Chairman.
We commend all the regulators for their support in our work to become a USE-listed company and to comply in a timely manner with the listing provisions of the national telecommunications operators’ licence,” he said shortly after the listing .
Telecom giant MTN Uganda Limited listed 22.4 billion ordinary shares on the Uganda Securities Exchange (USE), with trading commencing immediately.
The listing was approved by the Capital Markets Authority in Uganda and the USE. It follows the successful completion of the largest initial public offering in Uganda’s history, raising a record UGX535 billion from applications for 2.9 billion shares (including incentive shares). MTN Uganda is the country’s largest telecom firm, with a subscriber base of 11 million.
The company contributed about 5 percent ($570 million) of the total revenue ($11 billionaire) of the MTN Group in 2020. MTN Uganda has been operating in Uganda since 1998 when it acquired a 20-year license. Mbire, a prominent businessman with interests in infrastructure, banking, agriculture and energy, is the company’s chairman and one of its largest shareholders.
Mbire was born Charles Magezi in 1959 to Ponsiano Mbire and Thereza Mbire in Mparo, Rukiga District, southwestern Uganda. He is the third-born in the family with three sisters, two of them older than him, and two younger brothers.[4] He attended Kabale Primary School and Kitante Primary School for his elementary education. He studied at St. Mary’s College Kisubi for his O-Level education.
