MTN Nigeria launches public offer to retail investors

1 Dec 2021

MTN Nigeria has announced the launch of its public offer to retail investors at a price of NGN169.0 (USD0.41) per share. The offer, which includes up to 575 million shares, will close on 14 December. The minimum subscription is 20 shares and thereafter in lots of 20 shares. The offer includes an incentive of one free share for every 20 shares purchased, subject to a maximum of 250 free shares per investor. The incentive is open to retail investors who buy and hold the shares for at least twelve months after the allotment date.

‘In the last 20 years, we have worked diligently to connect 68 million subscribers onto voice and data networks and ensure that we deliver the benefits of a modern connected life. With this offer, we will contribute to the further deepening of Nigeria’s equity capital markets. It is the first in a series of transactions as the MTN Group implements its plans to ensure broad-based ownership by reducing its shareholding in MTN Nigeria to 65% over time,’ stated MTN Group President and CEO Ralph Mupita, adding: ‘We thank the Nigerian authorities for the support we as MTN Group have received in the various approvals related to this offer, and remain committed to play our humble role in driving digital and financial inclusion across the country over the medium term.’

Nigeria, MTN Group, MTN Nigeria