The national coordinator of Progressive Shareholders Association, Boniface Okezie, has said that MTN Group’s decision to sell up to 575 million shares in MTN Nigeria to institutional and retail investors will make it a Nigerian company.
He made the commendation at an investors’ forum held in Lagos this week saying it would allow more Nigerians to be part of the success story. “I would like to commend the MTN Group for reducing their shareholding to enable more Nigerians the opportunity to own shares in MTN Nigeria.
“Their decision clearly shows that today, MTN is no longer a foreign company, it is now Nigerian. MTN Group is giving Nigerians the opportunity to increase their holding in dividends. This is commendable. “To me, MTN is the best company to invest in for Nigerians. So, I am urging every retail investor and other Nigerians to take advantage of this public offer,” he concluded.
MTN Nigeria’s public offer, which is the first to be delivered digitally in Nigeria, is being sold to retail investors at N169 per share. The offer is the first from MTN since the 2019 listing on the Nigeria Exchange Limited (NGX) and the company seeks to take advantage of digital integration to ensure substantial participation from investors across Nigeria.
Following the launch of its public offer, MTN Nigeria began a nationwide roadshow to engage interested retail investors in the ongoing offer by MTN Group for shares in the company.
The roadshow, led by key MTN executives including the chief executive offer, Karl Olutokun Toriola and chief financial officer, Modupe Kadri, has made stops in several Nigerian states including Sokoto, Kano, Gombe, Akure, Enugu, Calabar and Port Harcourt.