MTN Nigeria Communications Plc has announced its plans to proceed with a public offer to sell up to 575 million shares.
Gatekeepers News reports that the telecoms giant made the announcement earlier on Thursday. The telecoms giant stated that the process to sell the shares would be done by way of a bookbuild to institutional investors and a fixed price to retail investors, the offer is expected to close in December.
“The offer is anticipated to open in November 2021 with a bookbuild 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. Further information about the offer and ways to subscribe will be provided.”
Gatekeepers News reports that MTN Nigeria shares, listed in Lagos, have returned 19.46 percent in the last one year as of 09:54 WAT on Thursday.
