BUSINESS

MTN Launches 575m Shares Sales To Investors

 

MTN Nigeria Communications Plc on Tuesday opened the sale of up to 575 million ordinary shares in MTN Nigeria held by MTN International (Mauritius) Limited, by way of a bookbuild to qualified investors (Institutional offer).

A statement at the Nigerian Exchange by the company signed by Uto Ukpanah, Company Secretary said the move was after the Securities and Exchange Commission (SEC) approved the offer.

Specifically, the institutional offer opened at 12.00 noon on 23 November 2021 and its expected to close at 2.00pm on 26 November 2021, after which a fixed price will be determined for the retail offer. The statement said retail offer “is proposed to open after the institutional offer and an announcement will be published in this regard once clearance is obtained from the SEC.”

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