• Business - Banking & Finance
  • Updated: December 06, 2021

Easy Steps To Buy MTN Shares

The talk in town is the initial public offering of MTN Nigeria Communications Plc (MTNN). In just less than two weeks, MTN Group announced its plan to offer for sale 575 million shares of MTN Nigeria to investors, especially retail ones.

Since when the apex telecommunication company went live on Wednesday, December 1st, 2021, Nigerians both at home and abroad have been queuing to get a piece of the action.

The offer, which began on Wednesday, December 1, 2021, and ends on Tuesday, December 14th, 2021, will be sold at NGN169.00 per unit of share.

The offer’s goal is to give as many Nigerian retail investors as possible the option to buy MTN Nigeria shares.

The minimum subscription is for 20 shares, with subsequent lots of 20 shares. The offer includes a bonus of one free share for every twenty shares purchased, up to a total of 250 free shares per investor.

Retail investors who buy and hold the shares assigned to them for at least 12 months after the allotment date are eligible for the bonus.

Who wouldn’t like to be part owner of one of the biggest companies in Africa?

This article is to help shed more light on the processes involved in getting a piece of the action.

How to participate in this offer

Interested retail investors are advised to submit their application at www.mtnonline.com/PO or consult with their stockbroker or banker for guidance.

MTN MoMo agents have also been trained to assist customers and provide guidance on using Primary Offer to submit an application.

There are two processes listed below to guide interested retail investors. They are the primary offers by the Nigerian Stock Market (NGX) and the receiving agents.

Apply for your shares digitally using NGX's primary offer app.

  • Visit the Primary Offer website, www.primaryofferng.com by NGX, or
  • Download the Primary Offer app by NGX from the App Store for iOS and the Google Play Store for Android devices.
  • A Bank Verification Number (BVN), Clearing House (CHN) Number, and Central Securities Clearing System Limited (CSCS) Number are required to register and submit an application for a Primary Offer.

Apply for your shares through authorized Receiving Agents—Issuing Houses, Stockbrokers, and Banks (applications can be completed and submitted, and payments processed at bank branches nationwide).

  • Request for the application form to invest in MTN Nigeria
  • Complete the Application Form.
  • Submit the completed Application Form with all the right information and make payment to a Receiving Agent.
  • The receiving agent confirms receipt of payment for the number of shares applied for.
  • The Receiving Agent issues an acknowledgment copy of the Application Form.
  • The application is submitted by the Receiving Agent based on the Primary Offer.
  • The applicant receives a notification of a successful primary offer once the application is submitted by the receiving agent.

Who qualifies to buy the MTN shares on offer?

Anyone above 18 years of age is eligible to buy the MTN shares on offer, but there are a limited number of conditions.

  • Applicants must apply for a minimum of 20 shares and multiples of 20 shares thereafter.
  • Applicants must have a valid BVN to register and submit an application for the Primary Offer.
  • Applicants must have a Clearing House Number (CHN) and a Central Securities Clearing System Limited (CSCS) Number.

Please take note of the following information:

A CSCS account number is created for you by your stockbroker and can be used for buying and selling securities. Accordingly, your CSCS details must be provided in the "CSCS Account Details" section of your application.

CHN (Clearing House Number) is a unique number that identifies each investor in the Nigerian Capital Market. The CHN is alphanumeric and starts with a "C." Accordingly, your CHN details must be provided in the "CHN Number Details" section of your application.

MTN shares can only be bought or sold by retail and institutional investors who have a CSCS account and have an account with any registered stockbroker. You cannot buy MTN shares if you do not have a stock brokerage account with a stockbroker registered in Nigeria.

  • For your records and tracking purposes, kindly keep a copy of the completed application form and proof of payment for your records.
  • If you submit an application through a receiving agent, the receiving agent will provide you with a photocopy of the completed application form bearing the date and time stamp.
  • If your application is successfully submitted through Primary Offer, you will receive a confirmation email.

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Okojie Kelvin Echiejile
Okojie Kelvin Echiejile

I am an astute, dedicated, devoted, and intelligent investigator of economic, and financial news and...

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