MTN Group recently announced that it is selling 575 million shares in Nigeria. Since then, many young Nigerians who understand the value of MTN Nigeria’s offer have been asking how to get a piece of the telecom giant.
If you’re among those seeking to have a share with MTN, search no further as all the information you need to understand how the stock market works is here.
We are ready to walk you through the steps to avoid losing out on the ongoing public offer by MTN Nigeria, the most profitable company in Nigeria (based on public records) and the second most capitalized company on the Nigeria Stock Exchange.
The interest is understandable; MTN is presently Nigeria’s largest telecoms player controlling the largest share of the mobile market with over 38.41% market share, according to the October 2021 market share stats from the Nigerian Communication Commission (NCC).
With a current market value of over ₦3.6 trillion or $8.7 billion, as of September 2021, MTN Nigeria is one of the top two most valuable companies in Nigeria, and its future looks more promising.
So if you’re looking for stocks to invest in, MTN Nigeria should be on your radar and here’s a step-by-step guide on taking advantage of the offer before it closes on December 14, 2021.
The best channel to buy the shares is the PrimaryOffer mobile app by NGX, available on Apple and Android devices.
Download the App on App Store (IOS) or PlayStore (Android). Insert your BVN and date of birth to register and get started. Don’t fret; the App is very secure, and your information is safe.
After setting up your account, you’ll receive a six-digit verification code via email. Once you enter the code, your account is ready to start trading.
The App will list the MTN Public Offer on your dashboard.
Proceed to buy the shares.
Click on the offer to read more and proceed to buy. Read and accept the terms and conditions and proceed to purchase.
You’ll indicate the number of units you want to buy.
The minimum you can buy is 20 units. Once you indicate the number of units, the App will automatically display the cost for the units selected. For instance, if you’re buying 200 units of the MTN Public offer selling at N169, the App will display the total amount you’re expected to pay – ₦33,800.
Accept the purchase conditions and proceed to make payment.
You’ll be asked to provide your CSCS number. If you don’t have it, the App will prompt you to create a CSCS account number before you proceed.
After submitting the completed application on the Primary Offer App, you will receive a confirmation email. The platform will also provide a copy of the application form and evidence of payment.
You can also buy the MTN shares through licensed Receiving Agents – Issuing Houses, Stockbrokers, and Banks.
Visit any of their offices, obtain the application form, submit the completed Application Form and make payment to a Receiving Agent.
Once the receiving Agent confirms payment for the number of shares applied for, an acknowledgement copy of the Application Form will be issued.
You’ll need to keep a copy of the completed application form and proof of payment for your records and tracking purposes.
After the closure of the Offer, you’ll be allocated your shares, and, you’re now a shareholder with one of Nigeria’s most valuable companies.