Business Hilights
Tracking Nigeria's Headline Business News Online

MTN unveils equity bookbuild to qualified investors ahead of retail offer

MTN Nigeria Communications Plc (MTN Nigeria) is pleased to announce 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 signed by the company secretary, Uto Ukpanah, MTN averred that “The Institutional Offer opens 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.”

Business Hilights recalls that MTN Nigeria is one of Africa’s largest providers of communications services, connecting approximately 68 million people in communities across the country with each other and the world.  Guided by a belief that everybody deserves the benefits of a modern connected life, MTN Nigeria’s leadership position in coverage, capacity and innovation has remained constant since its launch in 2001. MTN Nigeria is part of the MTN Group – a multinational telecommunications group, which operates in 20 countries in Africa and the Middle East.