- completes issuance of N88.9bn bonds
MTN Nigeria Communications Plc, a leading provider of communications services on Thursday informed the Nigerian Exchange (NGX) that the MTN Group Limited intended to proceed with a public offer for sale of up to 575 million shares in MTN Nigeria by way of a bookbuild to institutional investors and fixed price to retail investors
A notice at the NGX said the offer is anticipated to open in November 2021 with a bookbuild to institutional investors, after which a fixed price is expected to be announced for retail investors also in November 2021. The offer is expected to close in December 2021.
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“This is the first step in MTN Group’s previously communicated statement of intent to sell down approximately 14% of its current shareholder holding in MTN Nigeria,” the note said
MTN Nigeria Communications Plc Thursday announced the successful completion of the issuance of its N89.99 billion Series II 10-Year bond.
The Series II Bond, which maturity falls due in 2031, is issued at 12.75 per cent fixed rate and it is part of the N200 billion Bond Issuance Programme of the telecom company.
The issuance began about six months ago. It is the company’s second this year, following the successful outing in May this year.
The company made the announcement through a notice sent to the Nigerian Exchange (NGX) Limited in Lagos yesterday.
This completes MTN Nigeria’s ¦ 200 billion bond issuance programme, which the company said was fully subscribed.
The telecom giant also spoke of a plan to offer 575 million shares to the public this month.
Company Secretary Ufo Ukpanan said in a statement that MTN Group Limited intends to proceed with a public offer for sale of up to 575 million shares in MTN Nigeria by way of a book-build to institutional investors and fixed price to retail investors.
