The thousands of retail investors in Nigeria, who subscribed to the recent public offer of shares by MTN, are eligible to get the company’s newly declared dividend for 2021, which is N8.57k per share unit.
Primary Offer, an online platform that allows investors to buy into offers in the Nigerian Capital Market, made this disclosure in a note to the investing public. The platform is operated by Nigeria Exchange Limited (NGX).
The notice followed the Securities and Exchange Commission’s (SEC) approval of the allotment of shares from the sales, which investors oversubscribed by 139.5%.
“All shares allotted under the offer for sale are eligible for the proposed dividend which will be paid on 28 April,” the note cited by BizWatch Nigeria read.
More so, in a related development, the telco gave conditions for the allotment of the bonus shares promised to prospective investors that participated in its public offer, which lasted between Wednesday, December 1, 2021, and ended on Thursday, December 14.
While a total of 126,720 retail investors subscribed to purchase the stocks, which hasn’t been allotted to the buyers more than a month after, the bonus offered to lure investors, which is one stock for every 20 shares bought, would now come with a condition that wasn’t initially stated prior to the sales.
According to Primary Offer, the bonus would only be offered to investors that held their acquired shares for one year (till January 31, 2023), which means holders who sell the December shares before one year, won’t be issued the bonus share(s).
