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    SBU   UG0000000386

STANBIC UGANDA HOLDINGS LIMITED

(SBU)
  Report
End-of-day quote. End-of-day quote UGANDA SECURITIES EXCHANGE - 12/01
25 UGX   0.00%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

MTN Uganda announces share price for biggest Ugandan IPO

10/11/2021 | 04:30am EST

KAMPALA, Oct 11 (Reuters) - MTN Uganda said on Monday it had set the price of its initial public offering for the sale of a 20% stake at 200 Ugandan shillings ($0.0558) per share, as the East African nation's biggest telecoms operator launched the country's biggest IPO.

"The MTN IPO is officially open," MTN Uganda Chief Executive Wim Vanhelleputte told a news conference in Kampala, saying the IPO would close on Nov. 22. Shares start trading on Dec. 6.

MTN Uganda is offering 4.5 billion shares, Vanhelleputte said, after the unit of South Africa's MTN Group secured regulatory approval last week.

This would value the stake at 895.56 billion shillings ($250 million) and MTN Uganda at $1.25 billion, the company said.

Anne Juuko, chief executive of Stanbic Bank Uganda, which owns the sponsoring brokerage SBG Securities Uganda Ltd, said Ugandans would have first priority, followed by investors in East Africa and then investors from outside the region.

The telecoms firm, which has 15 million subscribers, also offers mobile money financial services, which Vanhelleputte said was the firm's biggest growth area as more people sought cashless transactions amid the COVID-19 pandemic.

The company's main rival is a unit of India's Bharti Airtel . It could build more subscribers after a smaller rival, Africell, said it was quitting the market.

MTN Uganda, which started operations in 1998, secured a 12-year renewal of its licence in June 2020 after paying $100 million and on condition it listed at least 20% of its shares on the local market, which now has 17 stocks.

MTN Uganda reported revenues in 2020 of 1.9 trillion Uganda shillings, up 9.3% from the previous year, and a pre-tax profit of 460.3 billion Ugandan shillings last year, up 21.3%.

"MTN Uganda will target in the medium term a dividend pay-out ratio of at least 60% of annual profits after tax," the company said in its prospectus.

MTN Uganda said it would announce the allocation result on Dec. 3.

($1 = 3,585.0000 Ugandan shillings) (Reporting by Elias Biryabarema; Writing by Maggie Fick; Editing by George Obulutsa and Edmund Blair)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHARTI AIRTEL LIMITED -1.06% 721 End-of-day quote.41.57%
DOW JONES AFRICA TITANS 50 INDEX 0.04% 518.42 Delayed Quote.-2.10%
MTN GROUP LIMITED 4.42% 168.73 End-of-day quote.180.33%
S&P AFRICA 40 INDEX -0.30% 168.63 Delayed Quote.-1.38%
STANBIC HOLDINGS PLC -0.54% 91.75 End-of-day quote.7.94%
STANBIC UGANDA HOLDINGS LIMITED 0.00% 25 End-of-day quote.8.70%
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Analyst Recommendations on STANBIC UGANDA HOLDINGS LIMITED
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Financials
Sales 2021 924 B 0,26 B 0,26 B
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 10,3%
Capitalization 1 305 B 367 M 367 M
Capi. / Sales 2021 1,41x
Capi. / Sales 2022 1,23x
Nbr of Employees 1 532
Free-Float 100,0%
Chart STANBIC UGANDA HOLDINGS LIMITED
Duration : Period :
Stanbic Uganda Holdings Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Last Close Price 25,00 UGX
Average target price 42,50 UGX
Spread / Average Target 70,0%
Managers and Directors
Andrew Mashanda Chief Executive Officer & Executive Director
Samuel Fredrick Mwogeza Chief Financial Officer
Japheth Katto Non-Executive Chairman
Patricia Nshemereirwe Head-Operations
Patrick J. Mangheni Independent Non-Executive Director