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(Xinhua) -- Namibia's largest telecommunications company, MTC, said on Friday that its application for primary listing on the main board of the Namibian Stock Exchange (NSX) has been approved.

 

This is the largest proposed listing by a Namibian company since the establishment of the NSX.

 

According to MTC Chief Human Capital and Corporate Affairs Officer Tim Ekandjo, 49 percent of the ordinary shares in MTC will be made available to the general public during the public offer, with Namibia Post and Telecommunications Holdings Limited retaining a minimum of 51 percent of MTC post-listing.

He said it is anticipated that the prospectus will open on Sept. 20 and that MTC will be listed before the end of November 2021.

 

"We take great pleasure to invite you to share in the prosperity by subscribing for shares in this truly Namibian company," Ekandjo said. "The listing will provide an opportunity for all MTC customers, staff, stakeholders, and the public, in general, to acquire MTC shares and participate in the ownership of MTC."

 

With the listing, MTC will become the first state-owned enterprise to list on the NSX. Enditem