A very big congratulations to those who were able to buy MTN shares through the MTN Share offer. MTN Nigeria opened an application list for its public offering of 575 million ordinary shares to the general retail investing public at a price of N169 per share on December 1, 2021, closed on December 14, 2021.
The main objective of introducing this offer was to provide as many Nigerian retail investors the opportunity to own shares in MTN Nigeria. Now, what’s next for those who were able to buy MTN shares during the first two weeks of December?
A public announcement would be made once the allotment process is completed and approved by the regulatory authorities and all successful applicants will be notified by Coronation Registrars with the details of shares allotted to them.
The Coronation Registrars will credit the CSCS accounts of all the successful applicants with the shares allotted to them. Investors who do not have a CSCS account will be required to apply for one through their stockbroker and the Registrars will credit their accounts subsequently.
The allotment date will be the date on which the allotment of the shares Is cleared by the SEC. This is typically up to 7 days after the transaction closes and depends on the quantum of applications received. The CSCS accounts of successful investors will be credited no later than fifteen (15) Working days from the allotment date.