South African mobile operator MTN has raised R2.78bn (E297m) from the sale of shares to Black investors.
A lot of 80.9 million MTN Zakhele shares were offered to black South Africans at R20 (E2.1) each.
Rand Merchant Bank was merchant bank and…
South African mobile operator MTN has raised R2.78bn (E297m) from the sale of shares to Black investors.
A lot of 80.9 million MTN Zakhele shares were offered to black South Africans at R20 (E2.1) each.
Rand Merchant Bank was merchant bank and transaction sponsor, while Deutsche Securities was sponsor. PwC and SizweNtsaluba VSP were joint reporting accounts. Webber Wentzel attorneys was legal and tax adviser, while Prinsloo, Tindle & Andropoulos was attorney to MTN Zakhele.
South African companies are legally obliged to have black shareholders as part of the government effort to break the control of the economy by the white minority.
