Are MTN shares still available for purchase?

11,627.00 ZAC

−539.00 (4.43%)

24 Oct, 10:26 SAST

When MTN Nigeria (MTNN) was listed on the Nigerian Stock Exchange (NSE) in May 2019, the market capitalization of the exchange increased by more than N1.8 trillion.

Roughly 575 million shares owned by MTN Nigeria Group were made available to retail investors in a public offering at a price of N169.00 per share. The Offer launched on Wednesday, December 1 through Tuesday, December 14, 2021.

The Offer was consistent with the MTN Group's pledge to gradually decrease its ownership stake in MTN Nigeria from 78.8% to 65%. The Offer's main goal was to give as many retail investors in Nigeria the chance to buy shares of MTN Nigeria.

The minimum subscription was initially 20 shares, and subsequently it was in lots of 20 shares. The Offer also featured a bonus of one share free for every 20 shares bought, up to a maximum of 250 free shares per investor.

Retail investors who have held their allotted shares for at least a year after the allocation date are eligible for the incentive.

The MTN Group owns about 79 percent of the whole MTN Nigeria share. The group became the largest member of the market to make such an offer when it agreed to sell 14% of its shares to eligible interested Nigerians.