Wednesday, January 19

MTN Public Offer: “We are well-positioned for the long term” – Olutokun Toriola

The Chief Executive Officer, MTN Nigeria, Olutokun Toriola says MTN Nigeria has a compelling growth story as the company offers strong dividends and growth at the same time. He shared this thought at a stakeholder engagement event in Enugu, which was organised as part of the nationwide roadshow to engage interested retail investors in the on-going offer by MTN Group for shares in MTN Nigeria.

According to him, “We believe we have a compelling growth story. It is very difficult to find a company in the stock exchange that can offer you both strong dividends and strong growth. Growth of the dividends and growth of the market price. We are also a company that is very well managed and efficient. We are also very well governed. We are disciplined. We have a Board of Directors that oversee what we do and a Group that also ensures we are providing the profit margins that is expected of us. All these make us well positioned for the long term.”

Other attendees at the roadshow were Chief Financial Officer, MTN Nigeria, Modupe Kadiri, Chief Corporate Services Officer, MTN Nigeria, Tobechukwu Okigbo, Chief Marketing Officer, MTN Nigeria, Adia Sowho, Company Secretary, MTN Nigeria, Uto Ukpanah, Divisional Head, Listings Business, The Nigeria Stock Exchange, Olumide Bolumole, and Head of Investment Banking, Rand Merchant Bank Nigeria Limited, Chidi Iwuchukwu.

The Offer, which opened at 8:00am on December 1, 2021, is expected to close at 5:00pm on December 14, 2021. Investors are allowed a minimum subscription of 20 shares and an incentive of one free share for every 20 shares purchased, subject to a maximum of 250 shares per investor. The incentive is open to retail investors who buy and hold the shares allotted to them for at least 12 months after the allotted date.

Investors can submit applications through the issuing houses, receiving agents (authorised stockbrokers and Nigerian banks) and online via a unique digital application platform, PrimaryOffer, administered by the Nigerian Exchange Limited.