MTN Nigeria’s public offer oversubscribed by 139.47%

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.

Source: MTN Nigeria’s public offer oversubscribed by 139.47% – StocksWatch (stocksng.com)

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