Namibia’s Leading ICT provider, MTC has officially started its journey towards listing on the Namibian Stock Exchange (“NSX”). MTC will become the first SOE to list on the NSX.
According to MTC’s spokesperson, Tim Ekandjo, the listing process will take approximately 15 months and will officially commence in June 2019. We expect to submit the listing application to the NSX in February 2020 and will announce the opening date for the public offer in March 2020. The public offer is expected to close in June 2020 and we anticipate being formally listed on the NSX by July 2020, depending on regulatory approvals.
We are pleased to announce that we have appointed IJG Securities and PSG Wealth Management (Namibia) as Sponsoring Brokers for the listing project. This press release is issued due to a public regulatory ruling that made the listing public knowledge and to keep the nation fully informed about the process. MTC’s listing decision has been motivated to achieve greater operational efficiency, transparency, enhanced operational visibility and achieving liquidity.
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