👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

Business NewsNews

MTN Nigeria to allot free shares to investors

MTN Nigeria Communications Plc is finalising plans to distribute free shares to shareholders who purchased shares in the company during its public offer for sale in December 2021.

MTN Nigeria said in a regulatory filing over the weekend that it was finalising plans to distribute incentive shares to shareholders who bought into its public offer and held at least 20 ordinary shares between January 31, 2022 and January 31, 2023.

👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

In its December 2021 public offer for sale, the communication firm included an innovative incentive structure of one free share for every 20 purchased, up to a maximum of 250 free shares per investor. Thus, an additional 4.28 million shares will be allotted to qualifying investors who hold the shares allotted to them for a period of 12 months until January 31, 2023.Information Guide Nigeria

Other Top Stories:

After receiving regulatory approval, the company stated that all qualified shareholders on the company’s register as of January 31, 2023 would have their incentive shares credited to their Central Securities and Clearing System accounts.JAMB portal

To qualify for the incentive shares, a subscriber must have held at least 20 shares for the previous 12-month period and be on the company’s register as of January 31, 2023.

MTN Nigeria’s N97.18 billion public offer received N135.53 billion in subscriptions, representing a 39.5 percent oversubscription.

MTN Nigeria had offered 575 million ordinary shares of 50 kobo each to the general retail investing public at a price of N169 per share. The application list for the offer opened on December 1, 2021 and closed at 5.00pm on December 14, 2021, as planned.NYSC portal

According to MTN Nigeria’s allotment details, an additional 86.25 million shares were added to absorb oversubscription, in accordance with the offer’s provisions, which allowed the issuer to absorb an additional 15% of subscriptions.

A breakdown revealed that retail shareholders received full allotment despite the oversubscription, whereas institutional shareholders in the book building phase were pro-rated as a result of the oversubscription.

👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

A total of 114,938 new accounts from new market participants were created at the stock market, with approximately 76 percent of successful applicants through the digital platform being women, with 85 percent of these under 40.

Valid applications were received for 801.97 million shares, resulting in the activation of the approved 15% oversubscription clause for an additional 86.25 million MTN Nigeria shares. In total, 661.25 million shares were distributed.JAMB Result

Check: JAMB Result

Check and Confirm: How much is Dollar to Naira today



📢 We are hiring writers!

Article Writing Jobs - We are hiring good freelance writers - Click here to apply

Copyright Warning!

Contents on this website may not be republished, reproduced, or redistributed either in whole or in part without due permission or acknowledgment. . Proper acknowledgment includes, but not limited to (a) LINK BACK TO THE ARTICLE in the case of re-publication on online media, (b) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes,. . All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA). . . The images, except where otherwise indicated, are taken directly from the web, if some images were inserted by mistake violating the copyright, please contact the administrator for immediate removal.
. We publish all content with good intentions. If you own this content & believe your copyright was violated or infringed, please contact us  for immediate removal.

Emediong Silver

Emediong Ekpe is a graduate of English. A professional Sports journalist/analyst, and a spoken word artist. He is passionate about decimating information and putting smiles on people's faces via news writing. Whatapp: 08088735884

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

It looks like you're using an ad blocker!

This website InfoGuideNigeria.com is maintained by the advertising revenue and we noticed you have ad-blocking enabled. Please disable Ad-Blocker