Telecom
6.6m Nigerians Become MTN Shareholders as Telco Rakes in N111.75Bn from Offer
MTN Nigeria Communication Plc has said it now has 6.6 million Nigerians as direct or indirect shareholders as it made N111.75bn from its share offer to Nigerians.
The telecommunications company said this in a statement titled ‘Results of the series 1 offer for sale of MTN Nigeria Communications Plc ordinary shares, first public offer via digital platform in Nigeria’.
Uto Ukpanah, company secretary, MTN Nigeria stated that “The Offer was implemented by way of a bookbuild to qualified institutional investors and a fixed price offer to retail investors.
“The Offer was oversubscribed with valid applications for a total of 801.97 million units, leading to the activation of the approved 15% over-subscription clause of an additional 86.25 million MTN Nigeria shares.
“In all, 661.25 million MTN Nigeria shares were allotted. A total of 126,720 retail investors submitted valid applications and received full allotment; and institutional investors including pension funds, insurance companies, asset managers, corporates, and foreign portfolio investors that participated in the bookbuild were allotted 72.09% of their applications. This includes Nigerian pension funds representing approximately 6.5 million Nigerian contributors.
“Following the successful completion of the Offer, MTN Group’s shareholding in MTN Nigeria reduced by 3.25 percentage points, from 78.83% to 75.58%.
“In line with the innovative incentive structure of 1 free share for every 20 purchased, subject to a maximum of 250 free shares per investor, an additional 4.28 million MTN Nigeria shares will be allotted to qualifying investors who hold the shares allotted to them for 12 months till 31 January 2023”.
MTN Group adopted a unique structure in this offering by determining a fixed price of N169 per share for the retail offer through a Bookbuild to Qualified Investors that was completed on 26 November 2021.
The fixed price offer to Retail Investors was at a discount of 11% to the closing price of MTN Nigeria stock on the day the Bookbuild was completed. The Offer commenced on 1 December 2021 and was completed on 14 December 2021.
Nigerian investors across the country supported the Offer through multiple channels – Receiving Agents, Issuing Houses and PrimaryOffer (a digital application platform).
The Offer is a landmark transaction and a true reflection of Nigerian investor confidence in MTN Nigeria. It marks the first time a digital application platform was used to democratize investing in a public offer and maximize investor participation across the country.
More than 89% of retail offer subscribers applied through the Primary Offer platform (mobile and web), and 114,938 new Central Securities Clearing System (CSCS) accounts were opened by first-time investors.
Ralph Mupita, CEO of MTN Group said: “We are pleased that this Offer has given so many Nigerians the opportunity to become owners of MTN Nigeria. With over 6.6 million Nigerians directly or indirectly becoming shareholders in MTN Nigeria, the objective of broadening the shareholder base, and creating shared value has been achieved.
“We are proud that our Offer was the first Nigerian public offer to use the digital application platform, PrimaryOffer, which enabled wider investor participation across Nigeria.
“We thank the Nigerian authorities for their support of this Offer. We remain committed to playing our humble role in driving digital and financial inclusion in Nigeria over the medium.”
Commenting on the Offer, Karl Toriola, CEO of MTN Nigeria said: “We are delighted to welcome so many new shareholders to the MTN family, up 11.6 times from the number before the offer.
“It has been inspiring to see so many Nigerians, many of whom are young, acquire shares for the first time, and use a digital platform to do so.
“This is the beginning of a journey to broaden our shareholding and there will be more opportunities to participate.
“We are pleased with the level of digital innovation we championed with this offer with the active collaboration of our lead issuing house and the various regulatory bodies. Deepening retail participation in Nigeria’s capital markets is a process, and we are off to a great start, demonstrating the role digital platforms can play in expanding access.
“I am particularly pleased that we completed this transaction in an accelerated time frame ensuring new shareholders can realize value almost immediately through participation in our 2021 full-year dividend.
“I would specifically like to thank the Honorable Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim (Pantami), the Nigerian Communications Commission and the wider Federal Government for the opportunity to execute this Offer.
“I thank the Securities and Exchange Commission, the Nigerian Exchange Limited, the CSCS, and all the parties involved for their support in delivering this ambitious Offer structure. I also appreciate our staff who worked tirelessly with our advisers on this project.
“Most of all I would like to thank our new shareholders for having confidence in us and in our future. We are delighted to have you on board for this journey to building a digital future together.”
Bolaji Balogun, CEO of Chapel Hill Denham, the Lead Issuing House said: “Chapel Hill Denham is honoured to have worked with MTN to complete Nigeria’s first digital and predominantly green offering.
“I wish to thank the SEC, the NGX, the CSCS, all the professional firms and other stakeholders, for delivering a big win for Nigeria’s capital markets in enabling the adoption of PrimaryOffer and this transaction marks a new and exciting future.
“Over 90% of subscribers to the Offer were first time participants in the capital markets and MTN Nigeria’s strong investment case made this possible.”
Nigerian Exchange Limited (NGX) CEO, Temi Popoola, CFA said: “NGX is proud to have worked with MTN Nigeria, Chapel Hill Denham and other parties to the transaction in advancing Nigeria’s capital market through the adoption of forward-looking technology.
“In the NGX era, we are resolute in our commitment to democratize finance in Nigeria in order to ensure every type of investor has access to public markets where they can invest in companies they believe in and reap value. With the digitised MTN Nigeria offering, we have made a tremendous stride in our plans for a full digital transformation of the Nigerian capital markets and we look forward to building on this.”
Central Securities Clearing System Plc CEO, Haruna Jalo-Waziri said: “We are excited to be part of the innovation brought by the Offer, which afforded the successful launch of PrimaryOffer digital application platform.
“This further buttresses the necessity for digital transformation, allowing market access for all categories of investors, including institutional and retail investors within and outside of the country.
“At CSCS, digital transformation has been the core of our strategic direction. We will continue to collaborate with our participants, issuers and other stakeholders to efficiently and effectively ease market access with innovative solutions through the investment cycle.”
Chapel Hill Denham Advisory Limited acted as Lead Issuing House and Bookrunner for the Offering, and Rand Merchant Bank Nigeria Limited, Renaissance Securities (Nigeria) Limited, Stanbic IBTC Capital Limited and Vetiva Capital Management Limited acted as Joint Issuing Houses and Joint Bookrunner.
QNET, leading global wellness and lifestyle direct-selling company, has successfully concluded V-Malaysia 2025, its flagship annual convention, at the Penang SPICE Convention Centre in Malaysia. Held from 21–25 June, the five-day event drew over 8,000 participants from more than 30 countries, including Nigeria, reinforcing the company’s global reach and strong foothold in the African market.
For over a decade, QNET has chosen Penang as the destination for this transformative event, which blends business networking, entrepreneurial development, and immersive personal growth experiences.
The 2025 edition underscores the continued collaboration between QNET, its event partner V Global Management (The V), Tourism Malaysia, the Malaysia Convention and Exhibition Bureau (MyCEB), and its state-level affiliate, Penang Convention and Exhibition Bureau (PCEB).
In Nigeria, QNET has steadily gained recognition as a key player in the direct selling and wellness space, empowering thousands of Nigerians with entrepreneurial opportunities, health-conscious products, and financial education.
Through its innovative business model, QNET has fostered a growing community of independent distributors across states like Lagos, Abuja, and Port Harcourt. Events such as V-Malaysia provide distributors a platform to connect with the global QNET network, learn from top leaders, and gain exposure to cutting-edge tools and products that can be leveraged in their local businesses.
V-Malaysia has evolved into a premier platform for business networking, entrepreneurial development, and cross-cultural collaboration. The synergy between QNET and The V — an internationally recognised organisation specialising in large-scale training and events has been pivotal in building the convention’s global draw.
YB Wong Hon Wai, Penang State EXCO for Tourism and Creative Economy (PETACH), emphasised the regional impact of V-Malaysia: “Penang’s vibrant tourism and business events ecosystem continues to attract top-tier events like QNET’s V-Malaysia.
In 2024 alone, Penang recorded an estimated RM1.29 billion in economic impact from such events – a testament to their significance. QNET’s long-term commitment brings not only economic value but also strengthens Penang’s global reputation.”
Trevor Kuna, Chief Marketing Officer of QNET, added: “For QNET, Penang is more than just a venue; it’s a home for inspiration, collaboration, and transformation.
“Our strong base in Nigeria and across Africa makes this event especially meaningful, as we bring together entrepreneurs from across the continent to share ideas and build cross-border relationships that accelerate personal and economic growth.”
The Malaysia Convention and Exhibition Bureau (MyCEB), a government agency under the Ministry of Tourism, Arts and Culture and parent body of PCEB, plays a pivotal role in Malaysia’s business events ecosystem. In 2023 alone, MyCEB facilitated 248 business events, brought in over 180,700 international delegates, and generated about RM 2.8 billion in economic impact.
For V-Malaysia 2025, MyCEB’s expertise in destination marketing, strategic facilitation, and coordination between federal and state levels (through PCEB) has been instrumental in elevating Penang’s standing as a premier MICE hub.
Complementing this effort is Tourism Malaysia, whose targeted incentives and logistical backing helped deliver V-Malaysia 2025 as a high-impact global event. Their support underscores the government’s broader commitment to positioning Malaysia as a top-tier host for international conferences and high-impact corporate events.
As part of the event’s activities, QNET also unveiled new wellness innovations, including Harmoniq, a bio-signaling patch designed to enhance energy and well-being, and QWIK, a line of oral health and nutrition strips — products set to expand into markets like Nigeria in the coming year.
V-Malaysia 2025 is not just a celebration of innovation and entrepreneurship; it is a dynamic platform that exemplifies how global vision and local action, especially across Africa, can reshape the future of direct selling. For more information about V-Malaysia 2025, please visit QNET’s official website.
In today’s digital world, teens are using social media to connect with their friends, learn and explore their interests.
Instagram has developed a variety of tools to give parents peace of mind, support safer interactions, and empower teens to make thoughtful decisions online. Whether you’re new to the platform or want to stay informed, here are essential safety tools every parent should know about:
Teen Accounts: Teen Accounts were designed to support parents better and give them peace of mind that their teens have the right protections in place. Teen Accounts have built-in protections that limit who can contact them and the content they see. By default, teen accounts are set to private and teens under 16 can only change this default setting with help from a parent or guardian.
Supervision tools (parental controls): As part of Teen Accounts, Instagram offers supervision features that allow parents to stay involved in their teen’s experience on the app. With this feature, parents can monitor how much time their teen spends on Instagram, view who they follow and who follows them, receive updates when their teen reports accounts or content, and set daily time limits or scheduled breaks to help manage usage.
Daily time limit: The daily time limit feature is also part of Teen Accounts. It allows parents and teens to set limits on app usage, encouraging healthier and more mindful engagement over time.
Block, restrict and report feature: Teen Accounts include tools that allow teens to block or restrict people they don’t want to interact with and report harmful content or behavior. Restricted users won’t be able to see when your teen is online or if they’ve read messages.
Sensitive content control: This safety feature, also available through Teen Accounts, lets users filter out potentially upsetting or mature content in Explore and other surfaces. content across Explore and other surfaces.
Educational Family Center: Instagram’s Family Center is an educational hub that provides articles and guidance to help parents have meaningful conversations with their teens about their online experiences and how to make time spent online a positive experience. The hub focuses on providing parents with practical tools from online safety experts, organisations and academics on everything from bullying to cybersecurity.
Take time to explore these features with your teen and use them as a starting point for open, ongoing conversations about their online life. When parents and teens navigate these digital spaces together, everyone wins.
In a bold move to blend digital empowerment with fun and entertainment, the Anambra State ICT Agency, in partnership with the Geeks and Founders Alliance for Soludo (GEFAS), announces the availability of free WiFi at the Anambra Mega Fest/Grand Opening of Solution Fun City.
Powered by Pine Heights Systems (PHSWEB), this initiative reinforces the state government’s commitment to bridging the digital divide and bringing connectivity directly to the people.
Set to hold on Saturday, June 28, 2025, at 1 PM, the grand opening of Solution Fun City will light up Awka with a mix of tech-forward innovation and high-energy entertainment, all under the distinguished hosting of Governor Charles Chukwuma Soludo, CFR.
Attendees are in for a tech-enhanced experience featuring music, dance, comedy, games, and electrifying performances from Flavour, Umu Obiligbo, JeriQ, Jennifer Eliogu, Ugoccie, Apete, Ojadili, Ogbuefi I Go Tuk, Onye Obodo, Prince Neche, and many more.
“Technology is one of the greatest equalizers of our time.
Through digital access, we are not only empowering citizens, we are deepening civic participation and driving progress,” said Chukwuemeka Fred Agbata, MD/CEO of the Anambra State ICT Agency and Convener of GEFAS.
The event signals a new chapter in Anambra’s smart governance journey, where technology, inclusivity, and community celebration come together in one dynamic space.
To connect to the Free WiFi: turn your phone’s WiFi, select Soludo Solution WiFi and follow the prompts on the landing page
For details, call: 0201 410 1240
Follow the conversation: @gefasoludo across all social media platforms.
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