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SEC Approves Allotment of MTN Nigeria Shares

The Securities and Exchange Commission (SEC) has approved the allotment of MTN Nigeria shares. This is contained in a newsletter from Nigerian Exchange Limited Wednesday, February 2, 2022

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With this announcement, the question of When Will I Receive My MTN Share Allotment? Has been laid to rest as details on how to check allotment have been sent to subscribers’ email addresses

In January, the telecom’s company secretary Uto Ukpanah had to issue a statement to dispel rumour about the company’s share allotment, assuring investors that they would be the first to know when shares are allotted.

“The attention of MTN Nigeria Communications PIc (MN Nigeria) has been drawn to media reports purporting to provide information on the allotment of shares from the recently concluded offer for sale of some of MN International (Mauritius) Limited’s shares held in MTN Nigeria.

“The information being reported did not emanate from the Company. The Securities & Exchange Commission’s review process is ongoing, and an announcement will be made by the Company once all regulatory approvals have been obtained.”

Performance of the share

Details from NGX revealed that the MTN offer was 139.47 per cent oversubscribed and has therefore reduced MTN Group’s shareholding to 75.6 per cent as against  78.8 per cent.

How To Check

Allotment of subscribers will be credited to their CSCS account by Friday, February 18, 2022.

By now, you should have received your CSCS number

If you are yet to receive your CSCS Number:

  • First login to the primaryofferng.com
  • Check your profile or contact your stockbroker

Africa’s biggest telecom giant began the sales of 575 million shares on December 2, 2021. It closed on December 14, 2021. At the close of trading Wednesday, January 26, 2022, the South African-owned company received 118 trades with 5,237,987 volume, valued at NGN995,268,654.80.

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Its market capitalisation stands at NGN4,121,788,892,625.00 (as of Tuesday, February 1, 2022).

2021 dividend

A few days ago, MTN Nigeria announced its Audited Financial Results for the year ended December 31, 2021, and proposed a final dividend of ₦8.57k per share.

It disclosed that “All shares allotted under the Offer for Sale are eligible for the proposed dividend which will be paid on April 28, 2022.”

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