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MTN to sell shares to black investors at a nearly 20% discount

If you bought Zakghele when it commenced you would’ve earned a 205% return. A normal MTN share would’ve returned about 70%.

Craig Gradidge

The minimum investment requirement is R2000.

Sydney Mhlarhi

MTN will sell shares worth R9.9 billion – a 4% stake - to black investors to meet government quotas on black ownership.

Africa's biggest telecoms firm said the new black economic empowerment deal will launch through a public offering in September to replace an existing scheme that will expire in November.

MTN said it will sell the shares at R102.80 - a nearly 20% discount to Friday's closing price.

The Money Show’s Bruce Whitfield interviewed Gradidge-Mahura Investments Financial Planner Craig Gradidge.

Gradidge spoke about the returns investors into MTN Zakghele would have got.

Whitfield also spoke to MTN Zakhele Spokesperson Sydney Mhlarhi.

Mhlarhi discussed the unwinding of to MTN Zakhele and the announcement of MTN Zakhele Futhi.

Listen to the audio below for more detail.

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Article brought to us by Old Mutual.

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