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MTN have had a cracking year. The share price has more than doubled from R62 at the beginning of January to R128 today. Unfortunately, they still have a long way to go to reach the R249 a share they got to in September 2014. Nonetheless, the trajectory seems to have changed for the good.
IHS, the Nigerian-based cellphone tower business (29% owned by MTN), is looking to list on US markets. The JSE used to be considered the gateway to Africa, and might have hosted such IPOs in the past. But today, with all the money floating around the US and very favourable IPO valuations, that's the place to be.
It's most likely that MTN will use the IPO to sell out its R30bn stake in IHS. They have been disposing of non-core infrastructure assets lately. You can read more about the deal on Business Day here.
