JUST IN: MTN To Sell Shares To Nigerians At N169 Per Share

Nigeria’s biggest network service provider MTN Nigeria Communication Plc has said that it will offer its shares to Nigerians at N169 per share, an amount lower than its traded share price.

In a communication to the Nigerian Exchange Group on Tuesday, the telco said it is opening the offering on December, 1, 2021.

The operator had revealed plans to sell its 575 million share holding in the Nigerian subsidiary.

The company had revealed that it is trying to reduce its shareholding by 65 per cent over time.

For the offer, MTN said it will be the first shares to be delivered via a digital platform to allow Nigerian investors participate.

MTN said, “The offer will open at 8.00 am on 1 December 2021 and close at 5:00 pm on 14 December 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 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.”

Checks by THE WHISTLER reveals that MTN shares are currently trading at N190 per share, an amount exceeding the offer rate by N21.

“The success and growth of MTN is intrinsically linked to that of Nigeria and Nigerians. Therefore, we are very excited to offer the share to Nigerians,” MTN Nigeria CEO, Karl said.

MTN said investors can submit applications through issuing Houses, Receiving Agents and Nigerian Banks.

The forms can be submitted online through the NGX platform, the telecom company added.

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10 Comments
  1. ADEBOWALE ADEYINKA SAMUEL says

    this is a good offer I’m interested in this great offer

  2. Orlunwor says

    I want to buy shares
    How will I go for it.

  3. Orlunwor says

    I am interested in this

  4. Abdullahi Abdur-Rauf says

    How can I get the offer

  5. Vincent says

    How do I acquire shares

  6. Agim Sunday ukanwa says

    I am interested in buying mtn shares which bank can I get it from. Thanks

  7. BABANGIDA ABDULLAHI says

    Ta

  8. Ikeokwu purity Blessing says

    I want to buy
    how d I go about it

  9. Olulode Taiwo says

    Please I’m interested in the mtn shares,which bank and branch can I get it?

  10. Olaiya taiwo Jeleel says

    Good afternoon , pls i but 50 unit out of the recent shares, so i select mtn to choose my stoke broker for me , tho have receive my cscs account no and my chn, but i dont know who my stoke broker is. Pls asist si that i cab verify my cscs account