MTN Nigeria Communications Plc (MTN Nigeria) on Thursday announced its plans to proceed with a public offer of up to 575 million shares in MTN Nigeria.
A statement signed by the Company Secretary, Uto Ukpanah, said the shares will be offered through a bookbuild to institutional investors and fixed price to retail investors.
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The Offer, according to MTN, is anticipated to open in November 2021 with a bookbuild to institutional investors, after which a fixed price is expected to be announced for retail investors also in November 2021.
The statement read, “The Offer is expected to close in December 2021. This is the first step in MTN Group’s previously communicated statement of intent to sell down approximately 14% of its current shareholding in MTN Nigeria.
“Further information about the Offer and ways to subscribe will be provided.”
 on Thursday announced its plans to proceed with a public offer of up to 575 million shares in MTN Nigeria.){kind=link}