MTN Nigeria IPO to commence this month

4 Nov 2021

The planned initial public offering (IPO) of MTN Nigeria shares will get underway this month, with some 575 million shares being made available. According to a statement by MTN Group, the process will open with a bookbuild to institutional investors, after which a fixed price will be announced for retail investors. The latter stage will also take place this month, while the IPO process is expected to conclude in December.

For its part, MTN Group commented: ‘We are also announcing a public offer of just under 3% of shares in MTN Nigeria as part of the statement of intent communicated previously to further localise 14% of the Group’s holding in MTN Nigeria over the medium term.’

Nigeria, MTN Group, MTN Nigeria