MTN Secures SEC’s Approval for Sale of 575m Shares, Launches Equity Bookbuild to Investors Ahead of Retail Offer

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(Last Updated On: 2021-11-23)

MTN Nigeria announced on Tuesday that the Securities and Exchange Commission (SEC) has approved an offer for sale of up to 575 million ordinary shares in MTN Nigeria held by MTN International (Mauritius) Limited via a bookbuild to qualified investors (Institutional Offer) and a fixed price to retail investors (Retail Offer) (Retail Offer).

The Company stated in a statement signed by its Company Secretary, Uto Ukpanah, and made available to DigitalTimesNG that the Institutional Offer will begin at 12.00 noon on November 23, 2021 and will end at 2.00 pm on November 26, 2021, after which a fixed price for the Retail Offer will be determined.

The Retail Offer is expected to open after the Institutional Offer, and an announcement will be made once clearance from the SEC is obtained.

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