Monday, 24 January, 2022

I BANK WITH ALAT

MTN Nigeria Communications Plc Today Begins The Sale Of 575 Million


Globaltimes Nigeria reports that MTN Nigeria Communications Plc (MTN Nigeria) today begins the sale of 575 million shares held in MTN Nigeria by MTN Group to retail investors to broaden the shareholding base of the telecoms company.

Its Chief Executive Officer, Karl Toriola, during a press conference yesterday said the sale of the shares was not designed to raise funds for the company but to deepen its shareholding and enable more Nigerians partake in the prosperity of the company.

The offer will open at 8:00am today and close at 5:00 pm on December14, 2021. Priced at N169.00 per share (the offer), the minimum subscription is for 20 shares and lots of 20 shares thereafter. The offer includes an incentive in the form 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 allotted to them for at least 12 months, post the allotment date.

The public offer is an offer for sale by MTN Group, which is divesting part of its shares in MTN Nigeria to allow Nigerian institutional and retail investors to buy equities in the telecommunications giant. The book building for institutional investors was done last week with a price range of N165 and N175.

The retail offer is the first in Nigeria to be delivered via a digital platform. By using the power of technology, it aims to facilitate the maximum possible participation by Nigerian investors.

Speaking further on the initiative, Toriola, said: “The success and growth of MTN Nigeria is intrinsically linked to that of Nigeria and Nigerians. Therefore, we are very excited to offer Nigerians the opportunity to own shares in MTN Nigeria.

Our journey to becoming the largest network in Nigeria has been humbling, but we still have a long way to go. There is much more to do to support the evolution of an inclusive digital economy, and we continue to invest as we evolve into a truly digital operator, capable of seamlessly integrating value across the evolving telecommunications, digital and fintech segments.”

CEO, Nigerian Exchange Limited, Temi Popoola, said the offer will help restore investors’ confidence. According to him, the current figure is too low, hoping that the retail offer will change the numbers.

Also speaking, MTN Group President and Chief Executive Officer, Ralph Mupita, said the offer aligned with the Group’s strategic priority to create shared value. “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 per cent over time. 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.”

Investors will be able to submit applications through the issuing houses, receiving agents (authorised stockbrokers and Nigerian banks) and online via a unique digital application platform, PrimaryOffer, administered by the Nigerian Exchange Limited.

0 comments on “MTN Nigeria Communications Plc Today Begins The Sale Of 575 Million

Leave a Reply

Your email address will not be published. Required fields are marked *

Recommended Hosting

Web Hosting

Recommended Hosting

Web Hosting

BlogMagazine Pro

BlogMagazine Pro is a premium plugin of BlogMagazine theme with cool and beautiful design which includes various layout, Social timeline options, posts/categories, typography options etc better way.

About Theme

BlogMagazine is a blog theme with cool and beautiful design which includes various layout to show your posts/categories in better way.It will works good as a Blog Website, or in categories like: Fashion, Sport, Design, Games Themes, Games and Blog

About Theme

BlogMagazine is a blog theme with cool and beautiful design which includes various layout to show your posts/categories in better way.It will works good as a Blog Website, or in categories like: Fashion, Sport, Design, Games Themes, Games and Blog

January 2022
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
31  

BlogMagazine Pro

BlogMagazine Pro is a premium plugin of BlogMagazine theme with cool and beautiful design which includes various layout, Social timeline options, posts/categories, typography options etc better way

Ads Banner

Liverpool vs Atletico Madrid match to be investigated

Social Profile