Nigerian retail investors to get their MTN shares February 18

Nigerian retail investors who purchased shares of MTN Nigeria Communications (MTNN) Plc during the company’s recent public offer will get their share on February 18, 2021.

In December, MTNN, primary share offer of 575 million shares (owned in MTN Nigeria) at N169 per share, was advertised for retail investors with a share bonus for every 20 shares bought at a maximum of 250 shares.

“The promotional offer ‘1 free share for every 20 purchased’ (subject to a maximum of 250 shares) will be allotted to investors who hold their shares for 12 months till January 31, 2023,” PrimaryOffer said in a mail to investors.

Meanwhile, in an earlier statement by by the MTNN Company Secretary, Uto Ukpanah, posted on the Nigerian Exchange (NGX) website, the first public offer for sale of 575 million shares recorded an oversubscription of 139.47 per cent.

The statement said that the offer was 139.47 per cent oversubscribed,  activating the allocation of an additional 86.25 million shares.

It disclosed that 661.25 million MTNN shares were allowed adding that 126,720 retail investors submitted valid applications and received full allotment.

The statement added that 114,938 new Central Securities Clearing System (CSCS) accounts were created representing new market participants.

It said that approximately 76 per cent of successful applicants via digital platform were women and 85 per cent were under age 40.