MTN BEE deal popular
According to MTN there has been an overwhelming response to the MTN Zakhele public offer which opened to the Black public in late August. Transaction volumes recorded during the first week of the offer show huge interest in the MTN Zakhele share scheme, with almost all individual and group investors (businesses) actually paying for the shares when submitting their application forms.
“This impressive response shows demand for this type of long-term investment among black investors, and that MTN Zakhele is an attractive, well priced and structured mechanism through which individual and group investors can build their future,” says Xolisa Vapi, MTN Group's Acting Group Executive for Corporate Affairs.
MTN said that according to the Post Office, which is the application channel for MTN Zakhele shares through its 1 530 outlets countrywide, the public's response in the first two weeks is far higher than that of Black public offerings they have handled in the past.
Applications for MTN Zakhele shares have come from across the country, with Gauteng and KwaZulu-Natal among the top provinces so far in terms of transaction volumes, said MTN
MTN once again appeals to prospective MTN Zakhele investors to submit their applications early to avoid the last minute rush by visiting their nearest Post Offices and MTN outlets. The public offer is open until 14 October 2010 at R20 per share, with a minimum requirement of 100 MTN Zakhele shares at a cost of R2,000.