MTN Shares Update: SEC Approves Allotment Of MTN Nigeria Shares

MTN Shares Update: SEC Approves Allotment Of MTN Nigeria Shares

The Securities and Exchange Commission (SEC) has approved the allotment of MTN Nigeria shares as subscribed shares is set to be credited to all CSCS account by February 18, 2022.

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This was disclosed by PrimaryOffer, one of the official platform to subscribe to MTN shares.

According to PrimaryOffer:

We are pleased to announce that the Securities and Exchange Commission (“SEC”) has approved the allotment of MTN Nigeria shares.

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.

What next?

1. Subscribed shares will be credited to your CSCS account by February 18, 2022.

2. Ifyou have not received your CSCS number, please log in to www.primaryofferng.com and check your profile or contact your stockbroker.

3. Thepromotional offer “1 free share for every 20 purchased” (subject to a maximum of 250 shares) will be allotted to investors who hold their shares for 12 months till January 31, 2023.

4. MTNNigeria announced its Audited Financial Results for the year ended December 31, 2021, and proposed a final dividend of ₦8.57k per share. All shares allotted under the Offer for Sale are eligible for the proposed dividend which will be paid on April 28, 2022.

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MTN Shares Update: SEC Approves Allotment Of MTN Nigeria Shares