MTN Nigeria has commenced operations on the public offer of 575 million shares to retail investors in Nigeria. The initiative which is aimed at increasing Nigerian ownership in the company will see the MTN Group reduce its shareholding from 79% to 65% through a series of offers.
As part of its activities during the public offer, MTN activated a nationwide roadshow on December 1, 2021. The train made a stop at the Royal Birds Hotel & Towers, Alagbaka Estate, Akure on December 3, 2021 to spread awareness about the offer and meet with potential retail investors.
Chief Human Resources Officer, MTN Nigeria, Esther Akinnukawe, enlightened guests on why MTN took this historic move. “The public offer is to help introduce a wider base of Nigerian shareholders into the company, increase free float of MTN Nigeria on the Nigerian Stock Exchange limited, enhance liquidity of MTN Nigeria for existing and future shareholders and encourage retail participation.”
Omolara Micheal-Nwadu, General Manager, Financial Planning, MTN Nigeria, said the offer which commenced on December 1st will run till December 14th, 2021. “The minimum subscription is for 20 shares and lots of 20 shares thereafter. The offer includes an incentive in the form of 1 free share for every 20 shares purchased, subject to a maximum of 250 shares per investor. The incentive is open to retail investors who buy and hold the shares allotted to them for at least 12 months after the allotment date.
As a demonstration of the opportunity that the offer presents for investors, MTN has provided for the offer to be delivered digitally. This is a first in Nigeria’s history and it has been structured in this manner to ensure availability to as many Nigerian investors as possible. It is the first offer from MTN since the 2019 listing on the Nigeria Exchange Limited (NGX) and it will be sold to retail investors at N169 per share.
Interested applicants can visit www.mtnonline.com/po for more information on the acquisition of shares or call 080mtnoffer.