• Friday, March 29, 2024
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BusinessDay

MTN Group to offer 575million shares of Nigerian unit for sale

MTN Nigeria’s Q1 PBT up 39.4% to N143.6bn

MTN Group Limited has announced its intention to proceed with a public offer for sale of up to 575 million shares in MTN Nigeria Plc by way of book building to institutional investors and fixed price to retail investors.

The offer is anticipated to open this November with a book building to institutional investors, after a fixed price will be announced same month for retail investors. The offer closes in December.

This is the first step in MTN Group’s previously communicated statement of intent to sell down approximately 14 percent of its current shareholding in MTN Nigeria Plc.

 

Read also: MTN could rake in $244m from sale of Nigeria shares