Africa Business Radio

MTN Nigeria Communications Plc says it is set to proceed with a public offer for the sale of 575 million shares. The company says Its parent company, MTN Group, is set to proceed with this sale by means of a bookbuild to institutional investors and fixed price to retail investors. The company says the Offer is anticipated to open in November 2021 with a bookbuild to institutional investors, after which a fixed price is expected to be announced for retail investors also in November 2021. MTN says that it successfully completed the issuance of its N89.99bn series II 10-year 12.75 per cent fixed-rate bonds due 2031 under the N200bn bond issuance programme.