Thursday, November 04, 2021 / 12:35 PM / NGX / Header Image Credit: Vanguard News

MTNNigeria Communications PLC (MTN Nigeria) is pleased to inform the market thatMTN Group Limited has announced its intention to proceed with a public offerfor sale of up to 575 million shares in MTN Nigeria by way of a bookbuild toinstitutional investors and fixed price to retail investors.

TheOffer is anticipated to open in November 2021 with a bookbuild to institutionalinvestors, after which a fixed price is expected to be announced for retailinvestors also in November 2021. The Offer is expected to close in December2021. This is the first step in MTN Group's previously communicated statementof intent to sell down approximately 14% of ifs current shareholding in MTNNigeria.

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