Following Nigeria’s telecom giant, MTN, first public offering of 575 million units of ordinary shares, capital market stakeholders have urged the company to prolong the offer term, which ended on December 14, 2021. They claim it will bring more Nigerians into the investment net.

The investors demand an extension of the offer, claiming that many of their members had yet to sign up for the exercise.

According to them, two weeks is far too short a time for such a huge investment, which was mostly made using the Public Offer app, the first of its kind in the Nigerian stock market’s history.

While praising MTN Group for its plan to sell up to 575 million shares to institutional and retail investors, Eric Akinduro, Chairman of the Ibadan Zone Shareholders Association, pointed out that the offer time is too short.

#nigeria #investment #stockmarket #retail #telecom

https://businesselitesafrica.com/investors-mtn-to-extend-the-end-date-575-million-units-shares-offering/

MTN can not on its own extend it. They will require SEC approval and there are rules regulating Public Offer.