MTN NG Offers Shares Sale to Retail Investors

MTN Nigeria has commenced a nationwide initiative to sell off about 575 million shares in MTN Group to retail Investors on December 1, 2021. To achieve this, a roadshow has been organized which started off in Abuja and will continue to every other state, over the next two weeks.

Speaking on this development, Ralph Mupita, MTN Group President and CEO, expressed that MTN Group is set to allow broad ownership in their companies; “This offer is the first phase of that process in Nigeria, as we progressively reduce our shareholding from 78 percent to 65 percent over time.”

This initial public offering sale began on December 1, at 8:00 am, and is scheduled to end on December 14 at 5:00 pm.

The cost of a share is N169. The minimum amount of shares public retail investors can buy is 20, and there is 1 free share on every 20 purchased to attract a lot of buyers. However, the free share is subject to retail investors who will hold the shares for a minimum of 12 months.

The cost of an MTN NG share as listed on the stock market as of Tuesday, November 30, was N190, meaning that a N21 discount was provided to the public.

However, by Wednesday, December 1, the share price in the stock market depreciated to N171, a 10% reduction that came after the public offering announcement. Sources say that this price depreciation was prompted by sell-offs of the company’s shares due to investors’ “negative sentiment” to the public offering. At market close, the MTN NG share at N171 was the lowest price traded.


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Mena Adediran
Mena Adediran
Mena Adediran is a student of Mass Communication, a writer and self-proclaimed waterbender. She loves poetry, art, music; and is keen on telling stories for a living.

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