MTN's first public offer oversubscribed as 126,720 Nigerians buy shares - Punch Newspapers

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MTN's first public offer oversubscribed as 126,720 Nigerians buy shares

126,720 retail investors submitted valid applications and received full allotment as MTN Nigeria Communications Plc announced that its first public offer for sale of 575 million shares recorded an oversubscription of 139.47 per cent.

It disclosed that 661.25 million MTNN shares were allowed, adding that 126,720 retail investors submitted valid applications and received full allotment. The statement also said that following the successful completion of the offer, MTN Group shareholding in MTNN reduced by 3.25 per cent, from 78.83 per cent to 75.58 per cent.

 

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