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MTN Zakhele shares popular - MTN
According to MTN there has been an overwhelming response to the MTN Zakhele public offer, which opened to the Black public on 30 August 2010. Transaction volumes have been unprecedented, with some investors lodging their applications within hours of the public offer going live.
Almost 100% of individual and group (businesses) investors who lodged their Zakhele share applications paid for the shares when submitting their forms.
Demand for long-term investment opportunities
"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 high countrywide
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.
MTN has appealed to prospective MTN Zakhele investors to submit their applications early to avoid a last minute rush. MTN and the Post Office have increased the number of MTN Zakhele prospectus available at their outlets as part of meeting the 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 call +27 (0)83 173 and choose option 7.
The public offer is open until 14 October 2010 at R20 per share, with a minimum requirement of 100 MTN Zakhele shares at a cost of R2,000.
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