The result of the first public offer of MTN Nigeria Communications ordinary shares has been published on the website of the Nigerian Exchange.
According to the telecom giant:
- The offer was 139.47% oversubscribed, activating the allocation of an additional 86.25 million shares.
- Retail shareholders received full allotment despite over-subscription
- Institutional shareholders under the Bookbuild were pro- rated as a result of the oversubscription.
- A total of 114,938 new CSCS accounts were created representing new market participants
- Approximately 76% of successful applicants via digital platforms are women, and 85% are under age 40.