MTN is now formally listed in Rwanda

MTN Group has formally listed the shares of subsidiary MTN Rwandacell on the Rwanda Stock Exchange (RSE), becoming the first mobile telecommunications operator to do so.

The 4 May “listing by introduction” saw Crystal Telecom shareholders holding a 20% direct stake in MTN Rwanda. These shares were previously held by Crystal Telecom.

MTN Group CEO Ralph Mupita said in a statement that the listing demonstrated MTN’s “commitment to Rwanda”, where it has had a presence since 1998.

“This listing will assist in deepening the Rwandan capital markets by broadening public ownership over time and will also establish the basis for a new and emerging telecoms and technology asset class on the exchange,” Mupita said.

Ahead of its listing by introduction on the RSE, MTN Rwanda changed its status from a private company to a public liability company. The full company name has therefore been changed from MTN Rwandacell Limited to MTN Rwandacell PLC, it said.

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