MTN Nigeria launches N97.2b public offer

Nigeria’s largest telecommunications company, MTN Nigeria Communications (MTN Nigeria) Plc will tomorrow open an application list for its public offering of 575 million ordinary shares to the general retail investing public at a price of N169 per share.

The offer period ends on December 14, 2021.

Minimum subscription is 20 shares and thereafter in multiples of 20 shares.

The offer 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. However, to qualify for the free share such retail investors must hold the shares allotted to them after the allotment date for at least a period of 12 months.