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MTN Nigeria sells shares to retail investors

from OKORO CHINEDU in Lagos, Nigeria
LAGOS – MTN Nigeria has opened the first retail offer to be delivered via a digital platform in Nigeria.

This is for the sale of 575 million shares, each priced at N169 ($0,41).

The offer opened on December 1 and will close on December 14.

Karl Toriola, MTN Nigeria Chief Executive Officer, 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,” the executive said.

The South African-headquartered MTN Group is the biggest operator in Nigeria, with over 68 million subscribers.

“Our journey to becoming the largest network in Nigeria has been humbling, but we still have a long way to go,” Kariola said.

Ralph Mupita, MTN Group President and Chief Executive Officer, said with the retail offer, MTN is further deepening Nigeria’s equity capital markets.

It is the first in a series of transactions as the MTN Group implements its plans to ensure broad-based ownership by reducing its shareholding in MTN Nigeria to 65 percent over time.

– CAJ News

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