MTN Nigeria Communications Plc (MTN Nigeria) commenced sale of public offer in shares to retail investors beginning Wednesday, December 1, 2021.
MTN Nigeria is offering 575 million shares to retail investors in a public offer priced at N169.00 per share (the Offer).
The Offer is expected to end on Tuesday, December 14, 2021.
MTN Group’s resolve to reduce its shareholding in MTN Nigeria from 78.8% to 65% over time is reflected in the Offer.
The minimum subscription is for 20 shares, with subsequent lots of 20 shares. The Offer includes a bonus of one free share for every twenty shares purchased, up to a total of 250 free shares per investor.
Retail investors who buy and hold the shares assigned to them for at least 12 months after the allotment date are eligible for the bonus.
How to buy MTN shares
Interested investors should use the approved channels listed below to submit an application. You can find full details of how to submit an application at www.mtnonline.com/PO or consult with your stockbroker or banker for further guidance.
MTN MoMo agents have also been trained to assist customers and provide guidance on using Primary Offer to submit an application.
- Primary Offer by NGX – Apply for your shares digitally through the PrimaryOffer app by NGX.
- Visit the Primary Offer website www.primaryofferng.com by NGX; or
- Download the Primary Offer app by NGX from the App Store for IOS and Google Play store for Android devices.
- A BVN, CHN and CSCS Number are required to register and submit an application on Primary Offer.
- Receiving Agents – Apply for your shares through authorised Receiving Agents – Issuing Houses, Stockbrokers & Banks (applications can be completed and submitted, and payments processed at bank branches nationwide).
- An interested investor should complete an Application Form.
- Submit the completed Application Form and make payment to a Receiving Agent.
- Receiving Agent confirms receipt of payment for the number of shares applied for.
- Receiving Agent issues an acknowledgement copy of the Application Form.
- Receiving Agent submits the application on Primary Offer.
- Applicant receives a notification from Primary Offer once the application is submitted by the Receiving Agent.
Eligibility to buy the MTN shares on offer
Anyone above 18 years of age is eligible to buy the MTN shares on offer.
What are the Conditions?
- Applicants must apply for a minimum of 20 shares and multiples of 20 shares thereafter.
- Applicants must have a valid BVN to register and submit an application on Primary Offer.
- Applicants must have a CHN and CSCS account.
A CSCS account number is created for you by your stockbroker and can be used for buying and selling securities. Accordingly, your CSCS details must be provided in the “CSCS Account Details” section of your application.
CHN (Clearing House Number) is a unique number that identifies each investor in the Nigerian Capital Market. The CHN is alphanumeric and starts with a “C”. Accordingly, your CHN details must be provided in the “CHN Number Details” section of your application.
MTN shares can only be bought or sold by retail and institutional investors who have a CSCS account and have an account from any registered stockbroker.
You cannot buy MTN shares if you do not have a stock brokerage account from a stockbroker registered in Nigeria.
MTN Nigeria Communications Plc also obtained an Approval-in-Principle (AIP) from the Steps to take to buy MTN Nigeria Shares to launch its proposed MoMo Payment Service Bank Limited.
At the end of Thursday trading session, MTN Nig Plc share price depreciated by 10.00% to close at N171.00 per share, taking the market capitalization from N3.87 trillion to N3.48 trillion.
What should be done after submission of application form?
- Kindly keep a copy of the completed Application Form and proof of payment for your records and tracking purposes.
- If you submit an application through a Receiving Agent, the Receiving Agent will provide you with a photocopy of the completed Application Form bearing the date and time stamp.
- When your application is successful through Primary Offer, you will receive a confirmation email.
