UUBO ADVISED ON MTN NIGERIA’S INITIAL PUBLIC OFFER - N478.2 BILLION EQUITY SHELF PROGRAMME ESTABLISHMENT AND SERIES 1 OFFER

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Published on 4 Feb 22

 

UUBO is pleased to have advised on the establishment of a =N=478.2 billion equity shelf programme and the Series 1 offer for sale of 575 million shares thereunder, by MTN Nigeria Communications PLC. The firm acted for the Selling Shareholder - MTN International (Mauritius) Limited.

The Series 1 offer was 139.47% oversubscribed and the transaction was the first public offer via a digital platform in Nigeria.

The UUBO team was led by the firm's Senior Partner, Dan Agbor and Partners Yinka EduNicholas Okafor and Joseph Odianosen Eimunjeze with support from Kunle Durosinmi-Etti and Ekundayo Onajobi (Senior Associates), as well as Damilola Adedoyin and Christopher Oke (Associates).