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How to buy MTN shares online before the offer closes

December 11, 2021

MTN Nigeria Communications PLC (“MTN Nigeria”) has offered 575 million ordinary shares for sale and put the price at ₦169.00 per share. The offer opened on Wednesday, the 1st of December 2021 and is scheduled to close at 5:00pm on Tuesday the 14th of December 2021. 

According to MTN, the Offer is in line with the MTN Group’s commitment to reduce its shareholding in MTN Nigeria from 78.8% to 65% over time, adding that 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 amount of shares a person can buy are 20 ordinary shares, totaling ₦3,380 and  for every 20 shares purchased, one free share is given. According to MTN Nigeria, its dividend policy states:

“MTN Nigeria will target, in the medium term, a dividend pay-out ratio of at least 80% of its distributable net income. This will be subject to the Board’s discretion, taking into account MTN Nigeria’s cash projections, business outlook, investment plans, capital market conditions, tax regulations and funding facility covenants. Distributable net income is determined in line with applicable accounting principles, legislation and regulations. There is no assurance that MTN Nigeria will pay dividends, or if a dividend is paid, what the amount of such dividend will be. See “Information regarding forward-looking statements” in the Offer documents”.

To buy the shares online, follow this step by step guide:

– Visit https://primaryofferng.com/ on your web browser or download “PrimaryOffer” from the Google Play store or Apple store.

– Create an account with your BVN and date of birth.

– Create a password and verify your account with the One Time Password (“OTP”) sent to you.

– Login with your email address and password.

– Select MTN Nigeria Offer and “Purchase”.

– Specify the number of desired units and select “Pay now”.

– Enter your CSCS, clearing house number and bank details for verification.

– If you do not have a CSCS account, indicate “No, I don’t”

– Input your bank account details and re-insert your password for verification.

– Select “Yes” only if you have a stockbroker account with a stockbroker or your bank.

– Review the subscription summary, submit, and make payment as directed.

– Once payment is through, a notification will be sent to your email.

The Share Prospectus and full information on Pricing Supplement on the Offer can be found here. Ensure to read the Prospectus, and where in doubt, consult your stockbroker, fund or portfolio managers, accountant, banker, solicitor, or any other professional adviser for guidance before proceeding.

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