In a statement on Tuesday, Uto Ukpanah, the company’s secretary, said the offer opens at 8:00 am on Wednesday, December 1, 2021, and closes at 5:00 pm on December 14, 2021.
The Cable reports that the statement added that the minimum subscription is for 20 shares and in multiples of 20 shares after.It also includes a bonus share of one share for every 20 shares bought by a retail investor subject to maximum bonus shares of 250 per investor.
“The Offer will open at 8:00 am on 1 December 2021 and close at 5:00 pm on 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 investors who buy and hold the shares allotted to them for at least 12 months, post the allotment date,” the statement reads.
“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.”
Commenting on the price announcement, Karl Toriola, MTN Nigeria CEO, said: “The success and growth of MTN Nigeria is intrinsically linked to that of Nigeria and Nigerians. Therefore, we are very excited to offer Nigerians the opportunity to own shares in MTN Nigeria.”
“Our journey to becoming the largest network in Nigeria has been humbling, but we still have a long way to go. There is much more to do to support the evolution of an inclusive digital economy, and we continue to invest as we evolve into a truly digital operator, capable of seamlessly integrating value across the evolving telecommunications, digital, and fintech segments.”