Coronation Asset Management (Proprietary) Limited notified MTN Group that, on behalf of its underlying clients, it holds a beneficial interest of 5.02% of MTN Group's issued ordinary share capital. The disclosure was made under the South African Companies Act and Johannesburg Stock Exchange listings requirements; MTN's
In practical terms, Coronation Asset Management reports a 5.02% beneficial stake in MTN Group, triggering statutory disclosure after crossing the 5% threshold. The next checkpoint is the next communication from JSE SENS on MTN, which should confirm whether momentum is building.
For more detail, read the full announcement.