Namibia lists biggest mobile phone company

Cropped Image Of Hand Inserting Sim Card In Mobile Phone - stock photo

Namibia listed the largest mobile phone company MTC on the Namibia Stock Exchange (NSX).

The listing, which is the largest by a Namibian company and the first by a state-owned company saw MTC sell a 49 percent stake of its company to the public through an initial public offering (IPO).

MTC raised about 2.5 billion Namibian dollars (168 million U.S. dollars) from about 299 million ordinary shares allocated through the IPO.

According to the NSX, the free float of MTC at listing will be 39.9 percent.

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