Monday 2021-12-06




By Business Reporter | 2021-11-25

MTN Group has announced that Securities and Exchange Commission (SEC) has approved an offer for sale of up to 575 million ordinary shares in MTN Nigeria.

This will be by way of a book-build to qualified investors (institutional offer) and a fixed price to retail investors (retail offer). The institutional offer opened on Tuesday and closes at 15.00 SAST on November 26, 2021 after which a fixed price will be determined for the retail offer.

The retail offer has been proposed to open after the institutional offer, and an announcement will be published in this regard once clearance has been obtained from the SEC.

“MTN Group is pleased with the launch of this public offer.

This is the first step in a series of offers over the near to medium-term for MTN Group to sell-down a total of up to 14 per cent shareholding in MTN Nigeria.

This should result in greater ownership by Nigerian institutional and retail shareholders, and increased liquidity of the share on the Nigerian Stock Exchange.” said Group President and Chief Executive Officer Ralph Mupita.

The MTN Group currently holds a 78.8 per cent shareholding in MTN Nigeria. Launched in 1994, the MTN Group is a leading emerging market operator with a clear vision to lead the delivery of a bold new digital world to our customers.

We are inspired by our belief that everyone deserves the benefits of a modern connected life. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code ‘MTN’.

The corporate giant’s strategy is Ambition 2025: Leading digital solutions for Africa’s progress.

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