Why MTN public offer generated interest in Imo

MTN public offer roadshow in Imo

Why MTN public offer generated interest in Imo

The MTN public offer has generated interest among the people of Imo State as the stakeholder engagement team held an interactive forum in Owerri, as part of its nationwide roadshow.

Speaking at the forum held at All Seasons Hotel, on Tuesday, Mr. Valentine Izuchukwu, the general manager, Business Development, stressed that the MTN Group was not divesting from the country, but intends to reduce its shareholding to enable more Nigerians own shares in MTN Nigeria.

He said, “We are here today in Imo State to let the people know that MTN is floating public shares and also tell the people how they can also become shareholders.

MTN Group owns 79 percent in MTN Nigeria and now they have decided to reduce their shareholding by selling 14 of its 79 percent as a way of giving Nigerians the opportunity of becoming critical stakeholders of the leading telecommunications company in Nigeria. So, it is not true that the MTN Group wants to leave Nigeria.”

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Chima Nwaokoma, MTN Nigeria’s investor relations officer, added that the shares were publicly offered because the company wants the everyday Nigerian to have the opportunity to own a stake, rather than off-loading all the shares to institutional investors.

According to him, “MTN could have offloaded all the shares to institutional investors but only 10 percent was reserved for them while 90 percent is reserved for Nigerians to have that unique opportunity to own a stake in the leading telecommunications company in Nigeria.”

Present at the event were the Obi of Obinugwu, His Royal Majesty, Eze Cletus Ikechukwu Ilomuanya, the Chief Executive Officer, OZB Communications, Ijeoma Ozuruigbo, the General Manager, Imo State Amalgamated Markets Authority (ISAMATA), as well as management staff of MTN in the region.

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