575 MTN Nigeria Ordinary Shares Approved For Sale By SEC.
In a PRESS STATEMENT by the MTN Group, has announced that the Securities and Exchange Commission (SEC) has approved an offer for the sale of up to 575 million ordinary shares in MTN Nigeria, by way of a book-build to qualified investors (Institutional Offer) and a fixed price to retail investors (Retail Offer).
The Institutional Offer opens on 23 November 2021 and closes at 15.00 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 SEC.
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The MTN Group is pleased with the launch of this public offer. This is the first step in a series of offers over the near to medium-term for MTN Group to sell-down a total of up to 14% shareholding in MTN Nigeria. This which should result in greater ownership by Nigerian institutional and retail shareholders, and increased liquidity of the share on the Nigerian Stock Exchange, as said by the Group President and Chief Executive Officer Of MTN Ralph Mupita.
MTN Group currently holds 78.8% shareholding in MTN Nigeria.
Source: www.mtn.com
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