By Chinenye Anuforo, [email protected]
Last week, Nigeria’s largest telecommunications company, MTN Nigeria Communications (MTN Nigeria) Plc, disclosed plans to expand Nigerians’ participation in the shareholding of the company through a public offer.
The company opened the application list for its public offer of 575 million ordinary shares to the investing public at a price of N169 per share.
The offer period ends on December 14, 2021.
Minimum subscription is 20 shares and thereafter in multiples of 20 shares.
The offer includes a bonus share of one share for every 20 shares bought by a retail investor, subject to maximum bonus shares of 250 per investor.
Many Nigerians still don’t understand the benefits if this offer.
Below are some of the benefits:
Transformational transaction:
By opening up shares in MTN Nigeria to millions of Nigerians over time, MTN is fundamentally transforming its ownership structure and is set to have the largest retail shareholder base of any company in Nigeria when the process is complete
Innovative transaction: By incorporating an incentive structure for investors to hold shares for the long term, and by using new innovative digital distribution platforms, MTN is indicating an intention to build a long-term relationship with its shareholders and to maximise participation.
Unique opportunity:
This is the first offer of this scale, targeted primarily at ordinary Nigerians for more than a decade and represents a unique opportunity for Nigerians to participate in MTN Nigeria’s success
Beginning of a journey:
MTN’s journey in Nigeria is 20 years old this year, but a new phase of the journey is beginning as the transition from Telco to Techco accelerates and new opportunities and possibilities emerge. The next 20 years promise to be even more transformational than the first.
Commenting on the public offer, MTN Nigeria’s chief executive officer, Karl Toriola, said: “The success and growth of MTN Nigeria is intrinsically linked to that of Nigeria and Nigerians. Therefore, we are very excited to offer Nigerians the opportunity to own shares in MTN Nigeria.
“Our journey to becoming the largest network in Nigeria has been humbling, but we still have a long way to go. There is much more to do to support the evolution of an inclusive digital economy, and we continue to invest as we evolve into a truly digital operator capable of seamlessly integrating value across the evolving telecommunications, digital and fintech segments.”
MTN Group’s president and CEO, Ralph Mupita, said the offer aligns with MTN Group’s strategic priority to create shared value.
“In the last 20 years, we have worked diligently to connect 68 million subscribers onto voice and data networks and ensure that we deliver the benefits of a modern connected life. With this offer, we will contribute to the further deepening of Nigeria’s equity capital markets. It is the first in a series of transactions as the MTN Group implements its plans to ensure broad-based ownership by reducing its shareholding in MTN Nigeria to 65 per cent over time.
How to participate in the offer
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 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 PrimaryOffer to submit an application.
PrimaryOffer by NGX – Apply for your shares digitally through the PrimaryOffer app by NGX.
• Visit the PrimaryOffer website by NGX; or
• Download the PrimaryOffer 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 PrimaryOffer.
Receiving Agents – Apply for your shares through authorised receiving agents– Issuing houses, stockbrokers and banks (applications can be completed and submitted, and payments processed at bank branches nationwide).
• An interested investor must complete an application form.
• Submit the completed application form and make payment to a receiving agent.
• Receiving agent confirms receipt of pazyment for the number of shares applied for.
• Receiving agent issues an acknowledgement copy of the application form.
• Receiving agent submits the application on PrimaryOffer.
• Applicant receives a notification from PrimaryOffer once the application is submitted by the receiving agent.