MTN announces public offer of 575m shares

MTN Nigeria Communications Plc (MTN Nigeria) has notified 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 book build to institutional investors and fixed price to retail investors.

The offer is anticipated to open in November 2021 with a book build 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 its current shareholding in MTN Nigeria.

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