Despite being the second most valuable company in Nigeria, only behind Dangote Cement, MTN Nigeria is offering 14 percent of its tightly-held shares to the Nigerian public.
Of the entire MTN Nigeria share, approximately 79 percent is held by MTN Group.
However, the group is currently letting go of 14 percent of its holding to as many Nigerians who are interested — making it the making it the biggest member of the bourse to make such an offer.
The good news is that any Nigerian with a bank verification number (BVN) can buy MTN shares, and for as low as N3,380 Naira on a Smartphone.
HOW TO BUY MTN SHARES with your phone.
Step 1- Download App:
PrimaryOffer: To apply for shares through PrimaryOffer, investors need to: Visit the PrimaryOffer website at www.primaryofferng.com
With a good mobile network, the download and installation should take less than three minutes.
Step 2 – Create your account:
Create an account using your bank verification number and date of birth. Here, you’d also need to set up your password, which should be kept as privately as possible.
Once this is done, the app, would already have some of your details, showing that it is somewhat connected to the banking system.
Step 3 – Validate your account:
After setting up your account, you will be asked to enter your security code. That code is in an email you already received. It is a one-time password (OTP), which you will type into the app to validate your account.
Step 4 – Login and and select Mtn Nigeria offer:
Once your account is all set up, you’d get a congratulatory message on your screen. The message would also have a blue button, asking you to login to the app.
Enter your email and recently created password to get into the dashboard. Once you’re in, click on MTN Nigeria offer.
Step 5 Accept the Terms and Purchase:
Once you click on MTN Nigeria offer, you’d see the terms and condition page, read and accept by ticking the unchecked column near the purchase button.
Once you do that, click on purchase.
Step 6 – Choose a number of MTN shares:
Your latest screen should now be showing “Enter your transaction details”.
In the column for specified units, enter the number of units you want to buy. The minimum number of shares you can buy is 20.
According to MTN, “the minimum application is 20 shares and multiples of 20 shares thereafter, so 20, 40, 60, 80, 100, 120…etc.
There is no maximum, however, the amount of shares allotted will be within the offer size of up to 575,000,000 ordinary shares.”One share cost N169. So for the minimum number of shares, you would need N3,380.
Step 7 – Pay for Shares:
After choosing the number of shares, and checking the terms and condition box, you click on “pay now”.
The app asks if you have a CSCS account. A Central Securities Clearing System (CSCS) account is a financial infrastructure for clearing, storing, and settlement of securities transactions.
It is where all your shares are domiciled.If you have a CSCS account, click on yes, if not, click on no. The option you choose will determine the next line of action. For both answers, the process is simple.
The app helps set up your CSCS account and allows you to process payment for the shares.
If you already have a CSCS account, enter the account number and your clearinghouse number (CHN).
After this, you update your bank details, where your dividends will likely be paid then you click on “pay now”.
Step 8 – Select preferred mode of payment:
When you get to this page, you have many payment options, choose which one works for you — bank transfer or card payment or just USSD — and pay for the shares.
Please note that bank charges will be added, bringing your N3,380 to N3,418.
Final Stage – Share allotment:
Once payment is made, you would get a mail, stating the details of your payment and confirming receipt of the payments.
Following approval by SEC, your shares would be allotted in less than 15 days. Going with these steps, you easily become an MTN shareholder.