MTN Zakhele offer proves popular
There has been an overwhelming response to the MTN Zakhele public offer, which opened to the Black public on 30 August 2010.
From day one of the offer, 30 August 2010, transaction volumes have been unprecedented, with some investors lodging their applications within hours of the public offer going live.
Transaction volumes recorded during the first week of the offer show huge interest in the MTN Zakhele share scheme, with almost 1000% of individual and group (businesses) investors who lodged their Zakhele share applications actually paying for the shares when submitting their application forms.
“This impressive response shows demand for this type of long-term investment among Black investors, and that MTN Zakhele is an attractive, well priced and structured mechanism through which individual and group investors can build their future,” says Xolisa Vapi, MTN Group’s Acting Group Executive for Corporate Affairs.
According to the Post Office, which is the application channel for MTN Zakhele shares through its 1 530 outlets countrywide, the public’s response in the first two weeks is far higher than that of Black public offerings they have handled in the past.
Applications for MTN Zakhele shares have come from across the country, with Gauteng and KwaZulu-Natal among the top provinces so far in terms of transaction volumes.
Considering the overwhelming transactional activity to date, MTN once again appeals to prospective MTN Zakhele investors to submit their applications early to avoid the last minute rush by visiting their nearest Post Offices and MTN outlets.
MTN and the Post Office have increased the number of MTN Zakhele prospectus available at their outlets as part of meeting the growing demand. The prospectus can also be downloaded from www.mtn.com, but applicants will have to complete original forms from the prospectus. For enquiries, applicants can also call 083 173 and choose option 7.
The public offer is open until 14 October 2010 at R20 per share, with a minimum requirement of 1000 MTN Zakhele shares at a cost of R2,000.
This article was originally posted on Africa ICT & Telecom Network