MTN Raises $150.2 Million in Undersubscribed Uganda IPO
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MTN Group Ltd. said the initial public offering of its Ugandan unit raised 535.94 billion shillings ($150.2 million), less than two-thirds of its target.
At least 2.9 billion shares were allotted out of the 4.5 billion shares that were offered, Kampala-based MTN Uganda Ltd. said in a statement, without providing reasons for the undersubscription.