MTN Group said it is planning to sell shares worth about $241.7million from its Nigeria business. MTN on Thursday said it will offer 575 million shares in MTN Nigeria, which listed in Lagos in 2019. "Today we announce our intention to proceed with a public offer for sale of up to 575 million shares in…MTN Group said it is planning to sell shares worth about $241.7million from its Nigeria business.
The Nigerian sale comes as MTN looks to finalise a sale-and-lease back of its South African telecom-mast portfolio and list shares in the Uganda operation in Kampala. The company also netted some proceeds from the initial public offering of towers firm IHS in New York last month. “As more of MTN’s enrolment centres in Nigeria are certified for SIM registration in line with the current regulations, we expect positive net additions to resume during Q4 2021,” MTN said.