Recently the MultiChoice Network popularly known as MTN network has revealed its decision to sell shares to its customers.
The decision was made after a stakeholder's meeting organized by the MTN group. At the end of the meeting, MTN concludes to reduce its shareholding in MTN Nigeria from 78.8% to 65%.
By this notice, the MTN group invites all potential investors to participate in the purchase of up to 474 million shares held by MTN Nigeria.
MTN Share Purchase Closing Date
According to the official MTN website, the closing date for the purchase of the MTN share is on Tuesday, 14 December 2021. Meanwhile, the purchase began Wednesday, 1 December 20121.
Minimum Purchasable share
The minimum subscription for the purchase of the MTN share is from 20 shares minimum and 250 shares maximum for a single investor.
However, investors which purchase a minimum of 20 shares will be given an additional 1 share as an incentive from MTN.
MTN share Duration
The share Duration according to the MTN official website is stated to last for a minimum of 12 months after which the share subscription expires.
How to participate in the MTN share offer
MTN Nigeria has provided 3 channels to which interested investors can apply for the Share purchase.
- Primary Offer
- Receiving Agent
In each channel, interested investors are to submit applications that will be reviewed by the MTN Group.
Primary Offer
- Investors that want to participate through the primary Offer should visit www.primaryofferng.com
- Download the primary Offer money app which is so available both in the play store and in the IOS App store.
- Open the app and complete the remaining commands.
Receiving Agents
To apply for shares through the Receiving Agents, investors need to Complete an application form.
Submit the completed application form and evidence of payment to a Receiving Agent.
Also, to register as receiving agent, you are to contact the MTN customer support centre by failing the following numbers 070046837862452 or 080MTNOFFER (0806 866 3337) for inquiries.
To register for the MTN primaryOffer, you must have obtained your Bank Verification Number (BVN) with you.
Secondly, as an investor, you must have a valid and active CSCS (Central Securities Clearing System) account.
What is CSCS ACCOUNT
A CSCS is an acronyms which stands for Central Securities Clearing System, it is a computerised depository system responsible for clearing, storing and settlement of securities transactions.
So, if you don't have CSCS account, you can contact your Stockbroker to assist you in setting up a cscs account.
