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MTN Targets 50% Market Penetration With 575m Shares

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As part of the move to increase Nigerian market penetration which currently stands at 50 per cent market share and 89 per cent population coverage,

respectively, the nation’s leading telecommunication company, MTN Nigeria has begun its public offer of 575 million shares at N169 per share.

The offer, which is said to be in line with MTN Group’s commitment to reduce its shareholding in MTN Nigeria from 78.8 per cent to 65 per cent over time, is designed to provide as many Nigerian retail investors as possible with an opportunity to own shares in MTN Nigeria. Speaking at the MTN Nigeria Roadshow in Abeokuta, Ogun state capital on Tuesday, Shoyinka Shodunke, Chief Information Officer, MTN Nigeria, noted that the public offer of 575 million shares at N169 per share was designed to further domesticate the ownership and operations of MTN Nigeria.

 

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