MTN Group Limited has announced its intention to proceed with a public offer for the sale of up to 575 million shares in MTN Nigeria by way of a bookbuild to institutional investors and a fixed price to retail investors.
In a statement on Thursday signed by the Company Secretary, Uto Ukpanah, the telecom giant said 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 statement further revealed that 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, according to MTN.
