MTN Nigeria Communications Plc has announced that the public offer to retail investors for the sale of up to 575 million shares held in MTN Nigeria held in MTN Group will be priced at N169 per share.
The offer will open at 8:00 am on 1 December 2021 and close at 5:00 pm 14 December 2021. The minimum subscription is for 20 shares and lots of 20 shares thereafter. The offer includes an incentive in the form of 1 free share for every 20 shares purchased, subject to a maximum of 250 free shares per investor.
The incentive is open to retail investor who buy and hold the shares allotted to them at least 12 months, post the allotment date.
The Retail Offer is the first in Nigeria to be delivered via a digital platform. By using the power of technology, it aims to facilitate the maximum possible participation by Nigerian investors.
Investors will be able to submit applications through the Issuing Houses, Receiving Agents (authorized Stockbrokers and Nigerian Banks) and online via a unique digital application platform, PrimaryOffer, administered by the Nigerian Exchange Limited.