May 28, 2022

MTN Group to Cut Stake in MTN Nigeria Via Share Placing – MarketWatch

  • December 1, 2021
  • 1 min read
MTN Group to Cut Stake in MTN Nigeria Via Share Placing – MarketWatch

By Sabela Ojea
MTN Group Ltd. said Tuesday that it is launching a public offering for the placing of up to 575 million shares held in MTN Nigeria, which will be priced at 169 naira (41 cents) a share.
The telecommunications company based in South Africa said the offer will open on Dec. 1 and close on Dec. 14.
“With this offer, we will contribute to the further deepening of Nigeria’s equity capital markets. It is the first in a series of transactions as the MTN Group implements its plans to ensure broad-based ownership by reducing its shareholding in MTN Nigeria to 65% over time,” President and Chief Executive Ralph Mupita said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
There's plenty of competition in cybersecurity. But there's also more demand than ever.
Dow Jones Newswires is a market-moving financial and business news source, used by wealth managers, institutional investors and fintech platforms around the world to identify trading and investing opportunities, strengthen advisor-client relationships and build investor experiences. Learn More.


About Author


Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.