MTN Nigeria Communications Plc is pleased to announce 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.
The offer is being made by way of a bookbuild, that is, within a short period to qualified investors (Institutional Offer), and a fixed price to retail investors (Retail Offer), according to a statement signed by MTN’s Company Secretary, Uto Ukpanah.
According to the statement, the Institutional Offer which opened 12.00 noon yesterday will close by 2.00pm on Friday, after which a fixed price will be determined for the Retail Offer.
The Retail Offer is proposed to open after the Institutional Offer, and an announcement will be published in this regard once clearance is obtained from the SEC, the statement concluded.
The offer is being made by way of a bookbuild to qualified investors (Institutional Offer) and a fixed price to retail investors (Retail Offer).
