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    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    BREAKING: Former President, Muhammadu Buhari dies at 82

    JUST IN: All women banned from universities in Afghanistan

    UAE imposes new visa conditions on Nigerians, bans transit visa

    JAMB sets 150 as cut-off mark for 2025/2026 university admissions

    JAMB sets 150 as cut-off mark for 2025/2026 university admissions

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    FX Restrictions: Nigerian banks resume international transactions on naira cards

    Billionaire businessman Aminu Alhassan Dantata dies at 94

    Billionaire businessman Aminu Alhassan Dantata dies at 94

    Israel and Iran agree on ceasefire – Trump

    Israel and Iran agree on ceasefire – Trump

    Breaking: Iran launches missiles at US bases in the Middle East

    Breaking: Iran launches missiles at US bases in the Middle East

    US military strikes Iran

    US military strikes Iran

    EFCC seeks transfer of Orji Uzor Kalu’s trial to Lagos

    Yahoo boys launder money for ‘politically exposed persons’ – EFCC boss

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    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    Champion Breweries Plc to issue additional shares

    Stanbic IBTC Holdings Plc announces N1.50 interim dividend for half-year 2023

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    Over 5 billion additional ordinary shares of Jaiz Bank Plc listed on NGX

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    Ellah Lakes Plc announces EGM to approve N250 billion capital raise, debt to equity conversion

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    List of Dividends announced in 2025, qualification and payment dates

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    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

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    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

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    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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MTN Nigeria’s Public Offer: N169.00 per Ordinary Share plus an incentive of 1 free share for every 20 shares

Tuesday, 30 November 2021, 8:51 pm
in Business, Companies
0
MTNN responds to alleged Tax indebtedness, “We make early payments”
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MTN Nigeria Communications Plc (NGX: MTNN) has announced the launch of its public offering to retail investors. The Telecoms company is seeking to sale up to 575 million shares held in MTN Nigeria by MTN Group.

Having concluded its book building, MTNN has price the shares to retail investors at N169.00 per share. The Offer will open at 8.00am on 1 December 2021 and close at 5.00pm 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 purchase, subject to a maximum of 250 free shares per investor.

The incentive is open to retail investors who buy and hold the shares alloted to them for at least 12 months, post the allotment date.

Read also; Shareholders of Conoil plc shared N1.04 billion dividend for 2020 financial year

It means that for an investor to obtain the maximum free shares, he or she will have to buy 5,000 shares of the stock. 5,000 shares at N169.00 will cost N845,000.00 excluding BUY charges. On average therefore, the shares would be costing the investor N161.00 per share excluding charges.

According to the launch announcement seen by Investogist, the Retail Offer will be delivered via a digital platform.

Commenting on the price announcement, MTN Nigeria Chief Executive Officer, Karl Toriola, said:

“Our journey to becoming the largest network in Nigerian 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 operation, capable of seamlessly integrating value across the evolving telecommunications, digital and fintech segments.”

MTN Group President and Chief Executive Officer Ralph Mupita, said that this is the first in a series of transactions as MTN Group implements its plans to ensure broad-based ownership by reducing its shareholding in MTN Nigeria to 65% over time.

Investors will be able to submit applications through the Issuing Houses, Receiving Agents (authorised Stockbrokers and Nigerian banks) and online vai a unique digital application platform, Primary Offer, administered by the Nigerian Exchange Limited.

Further details and a full directory of authorised receiving agents are at www.mtnonline.com/PO.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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