Investors to get incentive as MTN public offer closes today
As the on-going public offer of N97b shares by MTN closes today, the telecommunications giant has offered a unique incentive to investors who hold on to the shares for at least 12 months. The Chief Executive Officer, MTN, Karl Olutokun Toriola has said that this public offer and its incentive will further strengthen a deeper and long-term relationship between MTN and Nigerians.
“Every investor will be given 1 free share for every 20 shares purchased up to a limit of 250 bonus shares per investor. The incentive is open to investors who buy and hold the shares allotted continuously for 12 months from the closing date of the offer because this is a journey that we want to go on together,’’ he declared.
The public offer which kicked off on December 1 is valued at 575 million shares at the rate of N169 per share. The transaction has been structured to maximize long-term retail participation while creating an inclusive capital market as a route for ordinary Nigerians to access financial products such as insurance, pensions as well as asset management services.
The Chairman, Board of Directors, MTN, Dr. Ernest Ndukwe also submitted that Nigerians are at the heart of economic growth. He argues that the inclusion of Nigerians in the financial sector is one of the keys to rejuvenating the economy.
“It is these customers that are the foundation of ours, and every other business. Many of them have used MTN services loyally for the 20 years we have been connecting people. Many have left and come back. All provide value to our business in one way, shape or form; we have 20 years of experience to prove it. That is why, when we looked at the journey that MTN needs to go on over the coming years to achieve its own potential, we carefully thought about the concept of inclusion, and what it meant for us. There is no stronger way to demonstrate a commitment to inclusion than by offering as many people as possible the opportunity to participate in your success, as shareholders,’’ he said.
Interested investors can also submit their applications through any of the receiving agents in banks, issuing houses and stockbrokers before 5pm on December 14, 2021.
