RMB facilitates landmark public offer for MTN Nigeria

Client challenge

MTN Nigeria needed capital to broaden its local subscriber base and revolutionise telecoms and technology in Nigeria.

RMB's solution

RMB’s Corporate Finance team provided independent strategic advice in the management of key stakeholders to the transaction, including MTN Nigeria and investors. In addition, the team provided support with public offer marketing to local institutional and retail investors.

 Further support was provided to assist MTN Nigeria with the marketing of the public offer to local institutional and retail investors. The team, alongside RMB Nigeria Stockbrokers, journeyed the country with the client in a series of roadshows to inform people about the public offer. RMB leveraged its strong relationship with other financial institutions and brokers to drive retail participation for a successful outcome.

Client benefits

The offer for sale was a breakthrough for MTN Nigeria, having been oversubscribed by 139%. In accordance with the provisions of the offer prospectus, MTN Nigeria added 86.25 million shares, which amount to 15% of the subscriptions, to absorb the oversubscription.