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MTN Group (MTNOF) sets up 75M American Depositary Share program in U.S.

(Neutral)
(Neutral)
Form Type
F-6

Rhea-AI Filing Summary

MTN Group Limited is registering 75,000,000 American Depositary Shares (ADSs) in the United States, each ADS representing one ordinary share of MTN Group Limited. The ADSs are issued under a Second Amended and Restated Deposit Agreement with JPMorgan Chase Bank, N.A. as depositary.

The maximum aggregate offering price used for fee calculation is $3,750,000, based on a proposed maximum price of $0.05 per ADS and a registration fee of $517.88. MTN Group Limited states that it publishes required English-language information to maintain its Rule 12g3-2(b) exemption on its website or through an electronic information system in its primary market.

Positive

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Negative

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Filing Explained

The July 10 filing registers ADR capacity but delays effectiveness, so it does not establish a completed offering or current dilution.

MTN states that effectiveness will be delayed until a further amendment specifically declares effectiveness or the SEC determines the effective date.

The filing is therefore a registration of securities, not evidence in this document that the ADSs have been offered, sold, or issued.

Each ADS represents one ordinary share; any later issuance of additional shares would reduce existing holders' percentage ownership absent offsetting changes.

ADS registered 75,000,000 American Depositary Shares Amount of ADSs registered on Form F-6
Price per ADS (for fee calculation) $0.05 Proposed maximum aggregate price per unit used to compute registration fee
Maximum aggregate offering price $3,750,000 Basis for SEC registration fee for the 75,000,000 ADSs
Registration fee $517.88 SEC fee for registering the ADSs on Form F-6
ADS to ordinary share ratio 1 ADS : 1 ordinary share Each American Depositary Share represents one ordinary share of MTN Group Limited
American Depositary Shares financial
"American Depositary Shares evidenced by American Depositary Receipts, each American Depositary Share representing one ordinary share"
American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.
American Depositary Receipt financial
"The Prospectus consists of the proposed form of American Depositary Receipt ("ADR" or "American Depositary Receipt")"
An American depositary receipt (ADR) is a certificate that represents shares of a foreign company traded on U.S. stock exchanges. It allows investors to buy and sell parts of a foreign company's stock easily, much like purchasing shares of a company based in their own country. ADRs make international investing more convenient and accessible for U.S. investors.
Deposit Agreement regulatory
"form of Second Amended and Restated Deposit Agreement filed as Exhibit (a)"
A deposit agreement is a written contract between a customer and a financial institution that outlines the terms for opening and maintaining a deposit account, such as a savings or checking account. It explains important details like how funds can be accessed, any fees involved, and the institution’s responsibilities. For investors, understanding this agreement is important because it clarifies their rights and the rules governing their deposited funds.
Rule 12g3-2(b) regulatory
"required to maintain the exemption from registration under Rule 12g3-2(b) under the Securities Exchange Act of 1934"
Rule 466 regulatory
"It is proposed that this filing become effective under Rule 466"

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FAQ

What is MTN Group Limited (MTNOF) registering in this Form F-6?

MTN Group Limited is registering 75,000,000 American Depositary Shares (ADSs). Each ADS represents one ordinary share of MTN Group Limited and will be issued under a Second Amended and Restated Deposit Agreement with JPMorgan Chase Bank, N.A. as depositary.

How many MTN Group (MTNOF) ordinary shares does each ADS represent?

Each American Depositary Share represents one ordinary share of MTN Group Limited. This 1:1 ratio is specified in the registration and defines the direct correspondence between ADSs traded in the U.S. and the underlying ordinary shares.

What valuation was used to calculate the MTNOF ADS registration fee?

The filing uses a proposed maximum aggregate price of $0.05 per ADS, leading to a maximum aggregate offering price of $3,750,000. Based on this amount, the SEC registration fee is calculated as $517.88 for the 75,000,000 ADSs.

Who is the depositary bank for MTN Group (MTNOF) American Depositary Shares?

The depositary bank is JPMorgan Chase Bank, N.A., located at 270 Park Avenue, New York. It acts as depositary under the Second Amended and Restated Deposit Agreement, issuing American Depositary Receipts evidencing the ADSs.

How does MTN Group (MTNOF) meet Rule 12g3-2(b) information requirements?

MTN Group Limited states it publishes in English the information required to maintain its Rule 12g3-2(b) exemption. This information is made available on its website (www.mtn.com) or through an electronic information delivery system in its primary trading market.

Under which rule is MTN Group’s F-6 registration intended to become effective?

The filing states it is proposed that the registration become effective under Rule 466. This rule permits effectiveness of certain foreign issuer registration statements, including those for American Depositary Shares, immediately upon filing or on a specified date and time.

 

As filed with the U.S. Securities and Exchange Commission on July 10, 2026

Registration No. 333-

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________

 

FORM F-6

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

For Depositary Shares Evidenced by American Depositary Receipts

___________________

 

MTN Group Limited

(Exact name of issuer of deposited securities as specified in its charter)

 

n/a

(Translation of issuer's name into English)

 

Republic of South Africa

(Jurisdiction of incorporation or organization of issuer)

 

JPMORGAN CHASE BANK, N.A.

(Exact name of depositary as specified in its charter)

 

270 Park Avenue, Floor 8, New York, New York 10017

Telephone (800) 990-1135

(Address, including zip code, and telephone number, including area code, of depositary's principal executive offices)

____________________

 

Depositary Management Corporation

570 Lexington Avenue, Suite 2405

New York, New York 10022

Telephone: (212) 319-4800

(Address, including zip code, and telephone number, including area code, of agent for service)

 

Copy to:

 

Scott A. Ziegler, Esq.

Ziegler, Ziegler & Associates LLP

570 Lexington Avenue, Suite 2405

New York, New York 10022

(212) 319-7600

 

It is proposed that this filing become effective under Rule 466

 ☐   immediately upon filing
 ☐   on (Date) at (Time)
     
If a separate registration statement has been filed to register the deposited shares, check the following box. ☐

 

CALCULATION OF REGISTRATION FEE

Title of each class of

Securities to be registered

Amount

to be registered

Proposed maximum aggregate price per unit (1)

Proposed maximum

aggregate offering price (2)

Amount of

registration fee

American Depositary Shares evidenced by American Depositary Receipts, each American Depositary Share representing one ordinary share of MTN Group Limited

75,000,000

American Depositary Shares

$0.05 $3,750,000 $517.88
(1)Each unit represents one American Depositary Share.
(2)Estimated solely for the purpose of calculating the registration fee. Pursuant to Rule 457(k), such estimate is computed on the basis of the maximum aggregate fees or charges to be imposed in connection with the issuance of American Depositary Receipts evidencing American Depositary Shares.

 

The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.

  

 

 

 

PART I

INFORMATION REQUIRED IN PROSPECTUS

 

The Prospectus consists of the proposed form of American Depositary Receipt ("ADR" or "American Depositary Receipt") included as Exhibit A to the form of Second Amended and Restated Deposit Agreement filed as Exhibit (a) to this Registration Statement on Form F-6, which is incorporated herein by reference.

 

Item 1. DESCRIPTION OF SECURITIES TO BE REGISTERED

 

CROSS REFERENCE SHEET

  

 

Item Number and Caption

 

Location in Form of American Depositary

Receipt Filed Herewith as Prospectus

         
(1) Name and address of Depositary   Introductory paragraph and bottom of face of American Depositary Receipt
       
(2) Title of American Depositary Receipts and identity of deposited securities   Face of American Depositary Receipt, top center
       
  Terms of Deposit:    
       
  (i) Amount of deposited securities represented by one unit of American Depositary Shares   Face of American Depositary Receipt, upper right corner
         
  (ii) Procedure for voting the deposited securities   Paragraph (12)
         
  (iii) Procedure for collecting and distributing dividends   Paragraphs (4), (5), (7) and (10)
         
  (iv) Procedures for transmitting notices, reports and proxy soliciting material   Paragraphs (3), (8) and (12)
         
  (v) Sale or exercise of rights   Paragraphs (4), (5) and (10)
         
  (vi) Deposit or sale of securities resulting from dividends, splits or plans of reorganization   Paragraphs (4), (5), (10) and (13)
         
  (vii) Amendment, extension or termination of the Deposit Agreement   Paragraphs (16) and (17)
         
  (viii) Rights of holders of ADRs to inspect the transfer books of the Depositary and the list of holders of ADRs   Paragraph (3)
         
  (ix) Restrictions upon the right to transfer or withdraw the underlying securities   Paragraphs (1), (2), (4), and (5)
         
  (x) Limitation upon the liability of the Depositary   Paragraph (14)
         
(3) Fees and charges that a holder of ADRs may have to pay, either directly or indirectly   Paragraph (7)

 

 

 

 

Item 2. AVAILABLE INFORMATION

 

 

Item Number and Caption

 

Location in Form of American Depositary  

Receipt Filed Herewith as Prospectus

     
(a) Statement that MTN Group Limited publishes information in English required to maintain the exemption from registration under Rule 12g3-2(b) under the Securities Exchange Act of 1934 on its Internet Web site (www.mtn.com) or through an electronic information delivery system generally available to the public in its primary trading market.   Paragraph (8)

 

 

 

 

PART II

 

INFORMATION NOT REQUIRED IN PROSPECTUS

 

Item 3. EXHIBITS

 

(a)Form of Deposit Agreement. Form of Second Amended and Restated Deposit Agreement dated as of            , 2026 among MTN Group Limited, JPMorgan Chase Bank, N.A., as depositary (the "Depositary"), and all Holders and Beneficial Owners from time to time of ADRs issued thereunder (the "Deposit Agreement"), including the form of American Depositary Receipt. Filed herewith as Exhibit (a).

 

(b)Any other agreement to which the Depositary is a party relating to the issuance of the American Depositary Shares registered hereunder or the custody of the deposited securities represented thereby. Not Applicable.

 

(c)Every material contract relating to the deposited securities between the Depositary and the issuer of the deposited securities in effect at any time within the last three years. Not Applicable.

 

(d)Opinion of Ziegler, Ziegler & Associates LLP, counsel to the Depositary, as to the legality of the securities being registered. Filed herewith as Exhibit (d).

 

(e)Certification under Rule 466. Not Applicable.

 

(f)Powers of Attorney for certain officers and directors and the authorized representative of the Company. Set forth on the signature pages hereto.

 

Item 4. UNDERTAKINGS

 

(a)The Depositary hereby undertakes to make available at the principal office of the Depositary in the United States, for inspection by holders of the American Depositary Receipts, any reports and communications received from the issuer of the deposited securities which are both (1) received by the Depositary as the holder of the deposited securities, and (2) made generally available to the holders of the underlying securities by the issuer.

 

(b)If the amounts of fees charged are not disclosed in the prospectus, the Depositary undertakes to prepare a separate document stating the amount of any fee charged and describing the service for which it is charged and to deliver promptly a copy of such fee schedule without charge to anyone upon request. The Depositary undertakes to notify each registered holder of an American Depositary Receipt thirty days before any change in the fee schedule.

  

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Act of 1933, as amended, JPMorgan Chase Bank, N.A. on behalf of the legal entity created by the Deposit Agreement, certifies that it has reasonable grounds to believe that all the requirements for filing on Form F-6 are met and has duly caused this Registration Statement on Form F-6 to be signed on its behalf by the undersigned, thereunto duly authorized, in The City of New York, State of New York, on July 10, 2026.

 

 

Legal entity created by the form of Deposit Agreement for the issuance of ADRs evidencing American Depositary Shares 

   
  By: JPMORGAN CHASE BANK, N.A., as Depositary
     
  By: /s/ Gregory A. Levendis
  Name: Gregory A. Levendis
  Title: Executive Director

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, MTN Group Limited certifies that it has reasonable grounds to believe that all the requirements for filing on Form F-6 are met and has duly caused this Registration Statement on Form F-6 to be signed on its behalf by the undersigned, thereunto duly authorized, on July 10, 2026.

 

 

MTN Group Limited

     
  By: /s/ Ralph Mupita
  Name:

Ralph Mupita

  Title:

Executive Director, Group President and Chief Executive Officer

 

POWERS OF ATTORNEY

 

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Ralph Mupita and Tsholofelo Molefe, and each of them, his or her true and lawful attorneys-in-fact and agents, each with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any or all amendments (including post-effective amendments) to this Registration Statement and any and all related registration statements pursuant to Rule 462(b) of the Securities Act, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

 

Under the requirements of the Securities Act, this Registration Statement on Form F-6 has been signed by the following persons on July 10, 2026, in the capacities indicated.

 

SIGNATURES

 

Signature  

Title

     

/s/ Ralph Mupita

Ralph Mupita

 

Executive Director, Group President and Chief Executive Officer (principal executive officer)

     

/s/ Tsholofelo Molefe

Tsholofelo Molefe

 

Executive Director and Group Chief Financial Officer (principal financial and accounting officer)

     

 

Independent Non-Executive Chairman

Mcebisi Jonas    
     

 

Independent Non-Executive Director

Khotso Mokhele    

 

 

 

 

     

/s/ Noluthando Gosa

Noluthando Gosa

 

Independent Non-Executive Director

 

     

 

Independent Non-Executive Director

Sindi Mabaso-Koyana    
     

/s/ Nosipho Molope

Nosipho Molope

 

Independent Non-Executive Director

 

     

/s/ Sandile Gwala

Sandile Gwala

 

Independent Non-Executive Director

 

     

/s/ Vincent Rague

Vincent Rague

 

Independent Non-Executive Director

 

     

/s/ Tim Pennington

Tim Pennington

 

Independent Non-Executive Director

 

     

/s/ Lamido Sanusi

Lamido Sanusi

 

Independent Non-Executive Director

 

     

/s/ Galetlane Juliana Rasethaba

Galetlane Juliana Rasethaba

 

Independent Non-Executive Director

 

     

/s/ Safradou Yeboah-Amankwah

Safradou Yeboah-Amankwah

 

Independent Non-Executive Director

 

     

/s/ Nicky Newton-King

Nicky Newton-King

 

Independent Non-Executive Director

 

     

/s/ Stéphane Richard

Stéphane Richard

 

Independent Non-Executive Director

 

     

 

Independent Non-Executive Director

Ignatius Sehoole     
     

/s/ Herman Bosman

Herman Bosman

 

Independent Non-Executive Director

 

 

 

 

 

 

 

SIGNATURE OF AUTHORIZED REPRESENTATIVE OF THE REGISTRANT

 

Under the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of MTN Group Limited, has signed this Registration Statement on Form F-6 in New York, New York, on July 10, 2026.

 

 

Authorized U.S. Representative

 

Depositary Management Corporation 

     
  By: /s/ George Boychuk
  Name:

George Boychuk

  Title: Managing Director

 

 

 

 

INDEX TO EXHIBITS

 

Exhibit Number    
     
(a) Form of Second Amended and Restated Deposit Agreement.  
     
(d) Opinion of Ziegler, Ziegler & Associates LLP, counsel to the Depositary, as to the legality of the securities to be registered.