MTN Nigeria Communications Plc (NGX: MTNN) has stated that the information circulating about its shares allotment did not emanate from the company.
The telecommunications giant in a publication on The Nigerian Exchange stated the following;
The attention of MTN Nigeria Communications Plc has been drawn to media reports purporting to provide information on the allotment of shares from the recently concluded offer for sale of some of MTN International (Mauritius) Limited’s shares held in MTN Nigeria.
The information being reported did not emanate from the Company. The Securities & Exchange Commission’s review process is ongoing, and an announcement will be made by the Company once all regulatory approvals have been obtained.
MTN Nigeria advises shareholders and the investing public to exercise caution when reacting to information the Company has not released.
Between December 1 and 14 December, MTNN offered 575 million shares to Investors via a public offering. The telecoms company has 20,354,513,050.00 outstanding shares and a market capitalization of N3.86 trillion.
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About the company
MTN Nigeria Communications Plc (the Company) was incorporated on 08 November 2000 as a private limited liability company under the Companies and Allied Matters Act of Nigeria 2020. The Company was granted a licence by the Nigerian Communications Commission on 9 February 2001 to undertake the business of building and operating GSM Cellular Network Systems and other related services nation-wide in Nigeria.
The Company commenced operations on 8 August 2001 (commercial launch date). Currently, the Company holds a Unified Access Service License (UASL) in addition to a 2GHz Spectrum and Digital Terrestrial TV Broadcasting licence, in addition to others shown in note 19.
On 18 April 2019, MTN Nigeria Communications Limited re-registered as a public limited company, MTN Nigeria
Communications Plc. The Company was listed by introduction on the Premium Board of the Nigerian Stock Exchange on 16 May 2019. The Company’s registered office is at 4, Aromire road, off Alfred Rewane Road, Ikoyi Lagos.
MTN Nigeria Communications Plc’s subsidiaries are XS Broadband Limited, Visafone Communications Limited and Yello Digital Financial Services Limited. Their principal activities are the provision of broadband fixed wireless access service, high quality telecommunication services and mobile financial services respectively.
The Group’s holding company is MTN International (Mauritius) Limited, a company incorporated in the Republic of Mauritius and its ultimate holding company is MTN Group Limited, a company incorporated in South Africa.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur