MTN Commence Allotment Of Shares To Subscribers

MTN Shares Update: MTN Commence Allotment Of Shares To Subscribers

Following the approval of allotment of MTN Nigeria shares to subscribers by the Securities and Exchange Commission (SEC), the telecommunication giants have commenced the allotment of its shares to subscribers.

If you could recall, MTN stated that the allotment of the shares will commence on February 18th, 2022.  However, Subscribers have started receiving the E-allotment statement emails of their share from the company’s registrar, Coronation Registrars Limited.

According to the email:

“Dear Sir/Madam,

“RE: MTN NIGERIA COMMUNICATIONS PLC OFFER FOR SALE E-ALLOTMENT ADVICE

“Following the successful completion of the Offer for Sale of 661,250,000 ordinary shares of N0.02 each in MTN Nigeria Communications PLC by MTN International (Mauritius) Limited at N169.00 per share (the “Offer”), the Securities & Exchange Commission has cleared the allotment of Shareholding units to the relevant subscribers.”

“Kindly find below the statement of account evidencing allotment of your shareholdings and details of your investment in the Offer.”

“Kindly contact us via the address or e-mail above should you require further clarification or confirmation.

“Yours faithfully,”

“For: Coronation Registrars Limited”

According to MTN, the offer was 139.47% oversubscribed which reduces MTN Group’s shareholding from 78.8% to 75.6%. All Retail Investors were fully allotted 100% of the units applied for.

All subscribers are to start checking their email to get the details of their shares which includes the name of their Stockbroker, Narration, Registrar A/c No, CHN No, and the Shareholding Units.

MTN Shares Update: MTN Commence Allotment Of Shares To Subscribers