CORPORATE GOVERNANCE

MTN Launches An Equity Bookbuild To Qualified Investors Ahead Of Its Retail Offer

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By Kingsley I. Ilechukwu, Correspondent Lagos

MTN Nigeria Communications Plc (MTN Nigeria)  has announced that the Securities and Exchange Commission (SEC) has approved an offer for sale of up to 575 million ordinary shares in MTN Nigeria held by MTN International (Mauritius) Limited, by way of a bookbuild to qualified investors (Institutional Offer) and a fixed price to retail investors (Retail Offer).

MTN Nigeria statement on the Equity Bookbuild launch signed  by its Company Secretary, Uto Ukpanah  and sighted by Cyber Era NG  says the Institutional Offer opened at 12.00 noon on November  23, 2021 and closes at 2.00pm on November 26,  2021, after which a fixed price will be determined for the Retail Offer. The Retail Offer is proposed to open after the Institutional Offer, and an announcement will be published in this regard once clearance is obtained from the SEC.

Equity Bookbuild is a comprehensive web-based application, managing all facets of global equity deal execution. Successful deal execution is reliant upon many critical factors, including precise order entry, strict regulatory adherence, unequivocal price discovery, fair allocation practices, et cetera.

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