MTN Nigeria Notifies of Intention to Offer 575m Ordinary Shares for Sale to the Public

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Thursday, November 04, 2021 / 12:35 PM / NGX / Header Image Credit: Vanguard News


MTN Nigeria Communications PLC (MTN Nigeria) is pleased to inform the market that MTN Group Limited has announced its intention to proceed with a public offer for sale of up to 575 million shares in MTN Nigeria by way of a bookbuild to institutional investors and fixed price to retail investors.

The Offer is anticipated to open in November 2021 with a bookbuild to institutional investors, after which a fixed price is expected to be announced for retail investors also in November 2021. The Offer is expected to close in December 2021. This is the first step in MTN Group's previously communicated statement of intent to sell down approximately 14% of ifs current shareholding in MTN Nigeria.

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