MTNN to give investors 1 for 20 shares after 12 months   

Nov 30 (Lagos) - South Africa based MTN group's local subsidiary MTN Nigeria communications Plc ( MTNN ) will give retail investors 1share for every 20 shares they buy and hold for at least 12 months during a share sale this week according to CEO of the Company Mr. Toriola. 

The telecoms giant started a public offer of 575 million shares last week as plans to build a local shareholder base of more than 2 million Nigerians through the progressive sale of shares in the Nigerian subsidiary. 

Institutional investors had the first opportunity to participate in the share sale and acquired 10% of the offer. This week will see the turn of retail investors to participate and buy the 90% shares. 

Shares of MTNN are currently trading at N 190 per unit at the stock exchange in Lagos. 

reporting for on Tuesday, Nov 30 2021 from Lagos, Nigeria

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