MTN set to award incentive shares to eligible shareholders
MTN Nigeria Communications Plc is on track to award incentive shares to investors who participated in its initial public offering last January and met the conditions to entitle them to additional shares, the company said on Saturday. telecommunications in a press release.
The Johannesburg-based local unit of MTN Group Limited completed its first public sale of shares a year ago, a 139.5% oversubscribed offering requiring the allotment of 86.3 million additional actions.
It had planned to sell 575 million ordinary shares then held by MTN International (Mauritius) Limited, but ended up allocating 661.3 million to retail and institutional investors, the latter category of investors including funds pension funds, asset managers, insurance companies and corporations. and foreign portfolio investors who participated in the bookbuild.
As it promised investors at the time of the launch of the public offering, MTN said it would award shareholders one additional share for every 20 shares purchased and allocate up to a maximum of 250 shares.
In the meantime, eligible shareholders must have purchased and been awarded at least 20 common shares under the offer, the statement said.
In addition, they must hold all or part of the shares allocated to them under the offer by January 31, 2023 (qualification date) subject to holding a minimum of 20 ordinary shares.
READ ALSO:The telecommunications company added that shareholders must have their names appear on the company's register of members on the date of qualification.
“Qualifying shareholders will have their incentive shares credited to their CSCS accounts after the date of qualification and obtaining the required regulatory approvals,” the document states.
The bid saw 114,938 new CSCS accounts opened to represent new market players, with around 76% of successful applicants through digital platforms being women and 85% under 40.
MTN is currently the second largest company in Nigeria by market value with a market capitalization of N4.7 trillion naira.
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[embedded content]TEXT ANNOUNCEMENT: Call Willie - +2348098788999
MTN Nigeria Communications Plc is on track to award incentive shares to investors who participated in its initial public offering last January and met the conditions to entitle them to additional shares, the company said on Saturday. telecommunications in a press release.
The Johannesburg-based local unit of MTN Group Limited completed its first public sale of shares a year ago, a 139.5% oversubscribed offering requiring the allotment of 86.3 million additional actions.
It had planned to sell 575 million ordinary shares then held by MTN International (Mauritius) Limited, but ended up allocating 661.3 million to retail and institutional investors, the latter category of investors including funds pension funds, asset managers, insurance companies and corporations. and foreign portfolio investors who participated in the bookbuild.
As it promised investors at the time of the launch of the public offering, MTN said it would award shareholders one additional share for every 20 shares purchased and allocate up to a maximum of 250 shares.
In the meantime, eligible shareholders must have purchased and been awarded at least 20 common shares under the offer, the statement said.
In addition, they must hold all or part of the shares allocated to them under the offer by January 31, 2023 (qualification date) subject to holding a minimum of 20 ordinary shares.
READ ALSO:The telecommunications company added that shareholders must have their names appear on the company's register of members on the date of qualification.
“Qualifying shareholders will have their incentive shares credited to their CSCS accounts after the date of qualification and obtaining the required regulatory approvals,” the document states.
The bid saw 114,938 new CSCS accounts opened to represent new market players, with around 76% of successful applicants through digital platforms being women and 85% under 40.
MTN is currently the second largest company in Nigeria by market value with a market capitalization of N4.7 trillion naira.
Support the integrity and credibility journalism of PREMIUM TIMES Good journalism costs a lot of money. Yet only good journalism can guarantee the possibility of a good society, an accountable democracy and a transparent government. For free and continued access to the best investigative journalism in the country, we ask that you consider providing modest support to this noble endeavour. By contributing to PREMIUM TIMES, you help sustain relevant journalism and keep it free and accessible to everyone.Donate
[embedded content]TEXT ANNOUNCEMENT: Call Willie - +2348098788999
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