fergie0o1:

The NCC needed only two official bidders.




Airtel dropped at the 11th round

Mafab is a newcomer tech firm.

Mafab Communication and MTN came first and Second at today's 5G two slots auction.

You said trash. MAFAB has not been heard of in the telecommunications industry before, not even as a subsidiary of a giant telecommunications industry now want to jump into 5G.

All I see is a company that has been given space to sell. They won't pay a dime to NCC at the end, that's when u will know the truth.

wiseone28:
Does it mean only MTN will operate 5G in Nigeria for now?

others will pay MTN to get access to 5g same way other tv stations pay DSTV to show EPL matches.

li2pac1717:


Lol. You think building 5g infrastructure is free and cheap? The money they make today is not even enough to build a standard one for half of the country.

Is it NCC that will build the 5G infrastructure?

klas:


MTN Nigeria cannot use the money for company’s transactions.

It is an offer for sale, not new share issue which means the shares are being sold by an existing shareholders (though a major one) and the proceeds will go to the seller, not the company.

If MTN Nigeria needs money, it has to either borrow or issue new shares to be sold, not the one it has sold in the past which the then buyers are now cashing out by selling.

Has MTN sold shares publicly before?

princeade86:
Thank God they awarded it for my mafad. I will celebrate it.

Never heard of them.

fergie0o1:
Previous threads:

https://www.nairaland.com/6894051/5g-license-auction-mtn-airtel#108468903

https://www.nairaland.com/6878239/5g-spectrum-auction-ncc-okay#108156985











SOURCE

Where 9mobile na

fergie0o1:

The NCC needed only two official bidders.




Airtel dropped at the 11th round

Mafab is a newcomer tech firm.

Mafab Communication and MTN came first and Second at today's 5G two slots auction.

I think the most important part of this story is MAFAB. Who is MAFAB?

Are our greedy politicians trying to front MAFAB just to get their finger in this pie?

JubrilBuhari:

Never heard of them.

Your head dey there!

MTN dey sell shares to raise money for this project.

MAFAB wey we never hear carry first for the bid.

MAFAB fit be awó politicians?

loswhite:
Has MTN sold shares publicly before?

MTN Nigeria shares have been available to the public before, but MTN Nigeria has never sold shares to the general public before because it has no need.

How? You may ask.

When MTN Nigeria was set up in 2001, it was a private company owned by South Africans and some high netwoth Nigerians like Col Bello, Pascal Dozie, etc.

In 2014, the South African group partly sold 12% of their shares to another South African company, but MTNN still remained a private company..

When MTNN went public in May 2019, it did so by “introduction” which means that it did not issue new share to the public but allowed existing shareholders to sell their shares to anyone they like on the stock exchange. Note that a shareholder in a private company cannot sell share to just anyone without the approval of other shareholders. That restriction was removed when MTNN go public.

The bulk of the shares of MTN Nigeria (MTNN) almost 80% was held by South Africans. During the “introduction” on the stock exchange, the South Africans sold very few. That is why, MTN shares available to the public called “float” is very few till now.

Now the South Africans have decided to sell more to the public from their holdings but because of the sheer high volume which Nigerian Stock Exchange is not yet matured enough to handle on the floor without significantly depressing the price of MTN, the novel way of marketing direct to the public by the owners was adopted making it look like it is an “offer for subscription” (I.e. new shares issued by the company itself and that the proceeds go the company) rather than “offer for sale” (I.e. sold by existing shareholders from their current holdings and the proceeds go to them). The current sale is series 1, there are still series 2 and 3 coming before they would be able to sell the total volume they targeted after which the the holdings of South Africans in MTNN will reduce by about 12% to just over 60%

Nsibash:
Why do I feel like there's something fishy about these MAFAB guys.

Anyway when breeze blow, fawol nyansh go open

Mafab doesn't even have a website that works, a company that was created last year with no technology or telecom track record.

Mafab Communications website faces glitches after winning 5G licence

https://techeconomy.ng/2021/12/mafab-communications-website-faces-glitches-after-winning-5g-licence/

dgitrader:
Who's behind mafab?


Another scam offloading

Hmmmmm

Roadmike:
Lets wait and see.
Winning is one stage paying is yet another phase. we will see the face behind Mafab very soon.

Its just a matter of time...

JAIZ BANK

JUHABACH:


the offer for sale is from the MTN group's portion of their stake in MTN Nigeria. one way or the other, MTN is getting that money.

if seun as
majority shareholder of nairaland sells 50% of his shares to you, can he reinvest that money in nairaland again?

dgitrader:
Who's behind mafab?


Another scam offloading

What is this MAFAB's track record or where will it get the BTS sites to use when it never had 2G,3G, and 4G operations ongoing

miqos02:
if seun as
majority shareholder of nairaland sells 50% of his shares to you, can he reinvest that money in nairaland again?

Seun wouldn't necessarily need to make a direct investment. For example, he can invest the money in things that would indirectly benefit Nairaland or can simply stop taking dividend on Nairaland's profits from his remaining share in the company. This in turn would put less strain on Nairaland's financial expenditure. Meaning Nairaland can afford to make riskier investments. One way or the other, Nairaland will benefit.

@Adebash100 kindly quote me on a dead thread and say what you want to say. I don't have password to that mail

klas:


MTN Nigeria shares have been available to the public before, but MTN Nigeria has never sold shares to the general public before because it has no need.

How? You may ask.

When MTN Nigeria was set up in 2001, it was a private company owned by South Africans and some high netwoth Nigerians like Col Bello, Pascal Dozie, etc.

In 2014, the South African group partly sold 12% of their shares to another South African company, but MTNN still remained a private company..

When MTNN went public in May 2019, it did so by “introduction” which means that it did not issue new share to the public but allowed existing shareholders to sell their shares to anyone they like on the stock exchange. Note that a shareholder in a private company cannot sell share to just anyone without the approval of other shareholders. That restriction was removed when MTNN go public.

The bulk of the shares of MTN Nigeria (MTNN) almost 80% was held by South Africans. During the “introduction” on the stock exchange, the South Africans sold very few. That is why, MTN shares available to the public called “float” is very few till now.

Now the South Africans have decided to sell more to the public from their holdings but because of the sheer high volume which Nigerian Stock Exchange is not yet matured enough to handle on the floor without significantly depressing the price of MTN, the novel way of marketing direct to the public by the owners was adopted making it look like it is an “offer for subscription” (I.e. new shares issued by the company itself and that the proceeds go the company) rather than “offer for sale” (I.e. sold by existing shareholders from their current holdings and the proceeds go to them). The current sale is series 1, there are still series 2 and 3 coming before they would be able to sell the total volume they targeted after which the the holdings of South Africans in MTNN will reduce by about 12% to just over 60%

Absolutely brilliant. I guess you're a lawyer with a top tier law firm or you're an investment banker.
I just so love that rendition @klas

wetin concern glo with tecno

Oyinlomobambam:


Glo just like Tecno...

Na so so advert with scarp

Freelancerx:
wetin concern glo with tecno

They're more concern about advertising than given the value for money

Not necessarily true

Oyinlomobambam:


They're more concern about advertising than given the value for money