MTN Nigeria Telecommunications Plc said it was pleased to announce that the Securities and Exchange Commission (SEC) has approved its offer to sell 575 million ordinary shares which is currently held by MTN International (Mauritius) Limited. The shares will be sold by way of bookbuild to qualified investors (institutional investors) and a fixed price to retail investors.
The institutional offer will open at Mid-day on November 23rd, 2021 and will close by 2:Pm on November 26, 2021. Afterwards, a fixed price will be determined for retail investors, said a corporate action by the leading telco.
Note that the retail offer is scheduled to open after the institutional offer closes. The company said it will make further announcements to this effect once it has obtained clearance from SEC.