As part of moves to increase Nigerian market penetration which currently stands at 50 per cent market share and 89 per cent population coverage, respectively, leading telecommunication company, MTN Nigeria has begun its public offer of 575 million shares at N169 per share.  

The public offer, according to the MTN Nigeria leadership, is not only to raise capital at the stock exchange, but to also allow more Nigerians to be part owners of the company, thereby making more Nigerians to be MTN shareholders.

The offer, which is said to be in line with MTN Group’s commitment to reduce its shareholding in MTN Nigeria from 78.8 per cent to 65 per cent over time, is designed to provide as many Nigerian retail investors as possible with an opportunity to own shares in MTN Nigeria. 

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 The public offer to retail investors for the sale of up to 575 million shares held in MTN Nigeria by MTN Group is  priced at 169 per share and has been sale since on Wednesday, December 1, and closes on Tuesday, December 14,  2021. 

Speaking at the MTN Nigeria Roadshow in Abeokuta, Ogun state capital on Tuesday, Shoyinka Shodunke, Chief Information Officer, MTN Nigeria, noted that the public offer of 575 million shares at N169 per share was designed to further domesticate the ownership and operations of MTN Nigeria.