Progressive Shareholders Association National Coordinator Okezie Boniface has praised MTN Group for its decision to sell up to 575 million shares in MTN Nigeria to institutional and retail investors.
Boniface is a member of the Progressive Shareholders Association. Boniface described the move as a testament to the 'Nigerianness' of the company and stated that it would allow more Nigerians to be a part of the company's success story. he made the remarks at an investors' forum in Lagos.
"I would want to express my appreciation to the MTN Group for reducing their shareholding in order to provide more Nigerians with the option to purchase shares in MTN Nigeria," he said.
Their ruling demonstrates unequivocally that MTN is no longer a foreign corporation, but rather a Nigerian one. This is a commendable achievement.
"MTN is, in my opinion, the ideal firm for Nigerians to invest in, and I am asking every retail investor and other Nigerians to take advantage of this public offering."
MTN Nigeria's initial public offering (IPO), which is the first in Nigeria to be done digitally, is being sold to individual investors at a price of N169 per share. This is the first public offering from MTN since the firm's 2019 IPO on the Nigerian Exchange Limited (NGX), and the business hopes that through leveraging digital integration, it will be able to get significant participation from investors across Nigeria.
A nationwide roadshow was launched by MTN Nigeria following the launch of its initial public offering (IPO) in order to engage potential retail investors in the company's continuing public offering of its shares by the MTN Group.
The roadshow, which was headed by key MTN executives, including the company's Chief Executive Officer, Karl Toriola, made stops in a number of Nigerian towns, including Sokoto, Kano, Gombe, Akure, Enugu, Calabar, and Port Harcourt, among others.