6.6 Million Nigerians Become MTN Shareholders As Telco Rakes in N111.75bn

MTN Nigeria Communication Plc said it now has 6.6 million Nigerians as direct or indirect shareholders as it made N111.75bn from its share offer to Nigerians.

The telecommunications company said this in a statement titled ‘Results of the series 1 offer for sale of MTN Nigeria Communications Plc ordinary shares, first public offer via digital platform in Nigeria’.

The Chief Executive Officer, MTN Group, Ralph Mupita, said, “We are pleased that this offer has given so many Nigerians the opportunity to become owners of MTN Nigeria.

“With over 6.6 million Nigerians directly or indirectly becoming shareholders in MTN Nigeria, the objective of broadening the shareholder base and creating shared value has been achieved.”

The company said its offer was 139.47 per cent oversubscribed, leading to an allocation of an additional 86.25 million shares above the 575 million shares it had initially offered to the public.

It said it allotted 661.25 million shares at a fixed price of N169 per share.

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