The MTN Group has announced the it is making available 575 million shares in it initial public offer in MTN Nigeria at a price of N169.00 per share.
The Offer, according to the company, opened on Wednesday, 1 December 2021 and closes on Tuesday, 14 December 2021.
The Offer is in line with MTN Group’s commitment to reduce its shareholding in MTN Nigeria from 78.8% to 65% over time. The objective of the Offer is to provide as many Nigerian retail investors as possible with an opportunity to own shares in MTN Nigeria.
The minimum subscription is for 20 shares and lots of 20 shares thereafter. The Offer includes an incentive in the form of one 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.
How to participate in the Offer
Interested investors should ensure that they complete and submit applications through any of the following channels.
PrimaryOffer: To apply for shares through PrimaryOffer, investors need to:
- Visit the PrimaryOffer website at www.primaryofferng.com
- Download the PrimaryOffer app. Available for free from the App Store for IOS and Google Play Store.
Receiving Agents: To apply for shares through the Receiving Agents, investors need to:
- Complete an application form.
- Submit the completed application form and evidence of payment to a Receiving Agent.
You can also call the Customer Support Centre – 070046837862452 or 080MTNOFFER (0806 866 3337) for enquiries.
MTN said a Bank Verification Number (BVN) is required to register on PrimaryOffer, and investors will need to have a CSCS account number to complete the transaction. If you do not have a CSCS account, your stockbroker can assist in setting one up for you before completing your application. A CSCS account can also be created for you as part of the application process on PrimaryOffer.