Last week, Nigeria’s leading telecommunication company MTN Nigeria announced a digital public offer for its shares. The company announced that retail investors can purchase up to 575 million available shares at ₦169 per share starting from the 1st of December, 2021. According to MTN Nigeria, the public offer comes out of the company’s commitment to cut down its shareholding in the country from 78.8 percent to 65 percent over time.
The digital public offer is open starting December 1st through the 14th of December and will give Nigerian retail investors the rare opportunity to own shares in the company. The least amount of shares that can be purchased is 20 shares and as an incentive to encourage Nigerians to make more purchases, the company will issue an additional share for every 20 purchased. An investor, however, can only get a maximum of 250 free shares.
As announced by MTN Nigeria, the shares will be available digitally and if you’re one of those interested in owning an MTN share today, here’s how you can go about it. There are several ways by which you can purchase these shares…
The first is applying for these shares through the PrimaryOffer option. You can either visit the PrimaryOffer website by clicking here or by downloading the PrimaryOffer app available on both Google and iOS app stores. “A Bank Verification Number (BVN) is required to register on PrimaryOffer, and investors will need to have a CSCS account number to complete the transaction. If you do not have a CSCS account, your stockbroker can assist in setting one up for you before completing your application. A CSCS account can also be created for you as part of the application process on PrimaryOffer”, MTN announced on its website”.
Interested investors can also decide to acquire shares using Receiving agents. To apply for shares using this option, interested investors will have to fill an application form with a receiving agent after which they have to submit the completed application form and evidence of payment to a Receiving Agent. “There are five investment bank/issuing houses mandated to sell: Chapel Hill Denham (the lead), Rand Merchant bank, Renaissance Capital, Vertiva, and Stanbic IBTC. In addition to this, all the (about 200) stock broking firms in Nigeria can sell. The primary authorised digital platform to buy from is PrimaryOffer, as seen on MTN’s site. Chaka, which is partnering with Renaissance Capital, is also authorized to sell as a digital sub-broker.
Investors and interested parties (facing difficulty or not) can also call the Customer Support Centre – 070046837862452 or 080MTNOFFER (0806 866 3337) for enquiries.
Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.
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