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575 million shares sale affirms MTN’s Nigerianness – Okezie Boniface



MTN Allots Incentive Shares to Shareholders

Okezie Boniface, the national coordinator of Progressive Shareholders Association, has said the ongoing sale of 575 million shares of MTN Nigeria to Nigerians is a testament that the country is no longer foreign.

He commended MTN Group for its decision on the public offer, which gives more local institutional and local investors in the country to up shareholding right in the Africa’s leading telecommunications company.

He made the commendation at an Investors Forum held at the Lagos Marriot on Monday.

Speaking at the investors’ forum, Boniface described the move as a testament to the ‘Nigerianness’ of the company and said it would allow more Nigerians to be part of the success story.

He said, “I would like to commend the MTN Group for reducing their shareholding to enable more Nigerians the opportunity to own shares in MTN Nigeria. Their decision clearly shows that today, MTN is no longer a foreign company, it is now Nigerian. MTN Group is giving Nigerians the opportunity to increase their holding in dividends. This is commendable.

“To me, MTN is the best company to invest in for Nigerians so I am urging every retail investor and other Nigerians to take advantage of this public offer,” he concluded.

MTNNigeria’s public offer, which is the first to be delivered digitally in Nigeria, is being sold to retail investors at N169 per share.

The offer is the first from MTN since the 2019 listing on the Nigeria Exchange Limited (NGX) and the company seeks to take advantage of digital integration to ensure substantial participation from investors across Nigeria.

Following the launch of its public offer, the company began a nationwide roadshow to engage interested retail investors in the ongoing offer by the Group for shares in the company.

The roadshow, led by key executives including Karl Olutokun Toriola, the chief executive offer, and Modupe Kadri, the chief financial officer, has made stops in several Nigerian states including Sokoto, Kano, Gombe, Akure, Enugu, Calabar and Port Harcourt.

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