MTN Nigeria Communications Plc (MTN Nigeria) has announced that the Securities and Exchange Commission (SEC) has approved an offer for 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) and a fixed price to retail investors (Retail Offer).
A statement from the company signed by its Company Secretary, Uto Ukpanah, said the Institutional Offer opened at 12.00 noon on 23 November 2021 and closes at 2.00pm on 26 November 2021, after which a fixed price will be determined for the Retail Offer. The 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.
It will be recalled that MTN Group had earlier disclosed its intention to proceed with a public offer for sale of N575 million shares in MTN Nigeria. The telecoms giant had taken a similar decision in some of its strongholds, including but not limited to; Ghana, Rwanda, Zambia, among others.
