MTN Nigeria recently announced the price of its initial public offering to retail investors.The offer which opened at 8:00am on the 1st of December 2021 will close at 5:00pm on the 14th of December 2021 with a minimum subscription of 20 shares and lots of 20 shares thereafter.
At the retail offer roadshow in Enugu which held recently, the Chief Executive Officer, MTN Nigeria, Olutokun Toriola expressed his desire to have as many Nigerians own a share of MTN thus benefiting from the growth of the company.
Here are five reasons to embrace this public offer and invest:
1. A compelling growth story
According to the CEO, MTN is offering shareholders both strong dividends and strong growth. Growth of the dividends and growth of the market price with consistent payout.
2. A well-managed company
MTN Nigeria is a company that is well governed, and very efficient at what it does. According to him “We are disciplined, we have a board of directors that oversee what we do, we have auditors that check that the money is where it is supposed to be. We have a group that also ensures we are providing the profit margins that are expected of us.
3. ”Here to stay”
MTN is not exiting Nigeria and will continue to remain in Nigeria. MTN Group thus wants more Nigerians to participate in wealth creation in the future of MTN. This is why the public offer of 575 million shares for sale is made available in this first phase of a sell down.
4. Well-positioned for the long term
MTN is the leading operator in solutions for small and large businesses, as well as financial services and digital services. MTN believes that everyone in every village deserves the benefit of a modern connected life and will continue to lead and drive digital solutions for Nigeria.
The offer includes an incentive in the form of 1 free share for every 20 shares purchases, subject to a maximum of 250 free shares per investor. The incentive is open to retail investors who buy and hold the shares allotted to them for at least 12 months, post the allotment date.
Investors can submit applications through the issuing houses, receiving agents (authorised stockbrokers and Nigerian banks) and online via a unique digital application platform, PrimaryOffer, administered by the Nigerian Exchange Limited and can visit www.mtnonline.com/po for more information.