JOHANNESBURG – MTN on Monday announced that it had extended the deadline for applications for MTN Zakhele Futhi shares, its R9.9 billion BEE scheme, by a week to October 28.
MTN said this was due to the number of applications being received, both from potential investors and existing shareholders of MTN Zakhele, its 2010 scheme which is due to mature on November 24.
Last month, the mobile network company launched MTN Zakhele Futhi and issued a prospectus detailing the requirements for black South African individuals and groups wishing to purchase shares at R20 each.
MTN Zakhele Futhi would consist of up to approximately four percent equity ownership in MTN.
The minimum investment amount required to apply for MTN Zakhele Futhi shares is R2,000.
MTN Zakhele Futhi shares are due to be allocated on 23 November.