MTN Nigeria is the biggest telecom firm in Nigeria and you can own a share in the company as it is offering retail investors for up to 575 million shares. The shares will be priced at N169.00 per share (the Offer).
The Offer opens on Wednesday, 1 December 2021 and closes on Tuesday, 14 December 2021.
The Offer is in line with MTN Group’s commitment to reduce its shareholding in MTN Nigeria from 78.8% to 65% over time. The objective of the Offer is to provide as many Nigerian retail investors as possible with an opportunity to own shares in MTN Nigeria.
The minimum subscription is for 20 shares and lots of 20 shares thereafter. The Offer includes an incentive in the form of 1 free share for every 20 shares purchased, subject to a maximum of 250 free shares per investor. The incentive is open to retail investors who buy and hold the shares allotted to them for at least 12 months, post the allotment date.
The incentive is open to retail investors who buy and hold the shares allotted to them for at least 12 months, post the allotment date.
Who can buy the MTN shares on offer?
Anyone above 18 years of age is eligible to buy the MTN shares on offer, but there are a limited number of conditions.
- Applicants must apply for a minimum of 20 shares and multiples of 20 shares thereafter.
- Applicants must have a valid BVN to register and submit an application on PrimaryOffer.
- Applicants must have a Clearing House Number (CHN) and Central Securities Clearing System (CSCS) account.
How to Buy MTN Shares
Buying MTN Nigeria shares is very easy now that we have stock investment apps like Trove, Bamboo, Chaka and Risevest. With them you can buy the MTN Nigeria shares with ease.
Techawk bought shares with the Trove app and it was seamless. MTN shares can also be bought from certified stockbrokers and agents.
So let’s dive into buying MTN Nigeria shares with Trove app.
- First fill the MTN Public Offer Indication of Interest form.
- Proceed to download the Trove App on Google Play Store or Apple Store. You must pass the Know Your Customers requirements before you buy can start using the app.
- After you have passed the mandatory KYC, you can start stock trading and buy MTN shares.
- At the top left corner of the app, you will find 3 unequal horizontal lines, tap and then click on dashboard.
- Search for MTNN in the search box and click the search result.
- Then click on Buy Shares and afterwards, enter the amount of shares you want (minimum of 20). The total amount of the shares would be automatically calculated and you would also see the service fee. Click on proceed to payment.
- If you do not have money in your wallet, you have to fund it. Go back to the 3 horizontal lines and tap on My Wallets.
- You can either fund your naira or dollar account. In this case, we used the naira option to buy the MTN shares on Trove App. Tap on Nigerian Naira and click on deposit.
- You can either fund your wallet via bank transfer or card payment.
- After the amount you credited your wallet reflects, you go back to number 6 to buy shares.
- After payment, you will have to wait for a few days to allow Trove process your transaction.
- If you are worried, you can click on messages and “Send us a message” to live chat Trove.