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    MTN   ZAE000042164

MTN GROUP LIMITED

(MTN)
  Report
End-of-day quote. End-of-day quote Johannesburg Stock Exchange - 01/28
174.34 ZAR   +3.84%
01/27MTN : President visits Ghana, meets key stakeholders
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01/24MTN : strategic priority to create shared value leads to material ESG re-rating
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01/11MTN Uganda Launches Momoadvance
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MTN Nigeria shares shed 10% after IPO pricing

12/01/2021 | 10:38am EST
FILE PHOTO: FILE PHOTO: The logo of MTN is pictured in Abuja

ABUJA (Reuters) - Shares of Nigeria's second-biggest listed company, MTN Nigeria , fell 10% on Wednesday to a five-week low after it set a retail public offer price that was lower than its share price on the stock market.

South African telecoms group MTN opened its offer for sale to retail investors on Wednesday at 169 naira per share to sell up to 575 million shares in MTN Nigeria.

The public offer, which closes on Dec. 14, marks the first phase of a share sale to retail investors where the South African company will seek to sell down its holding in MTN Nigeria to 65% from 78% over time, MTN Group Chief Executive Ralph Mupita said at a roadshow in Abuja.

MTN Group Chairman Mcebisi Jonas attended the roadshow, which was held on the sidelines of a state visit by South African President Cyril Ramaphosa.

The drop in MTN Nigeria shares pushed the main share index down 1.8% to a three-week low.

MTN listed its Nigerian business in Lagos two years ago at 90 naira each, becoming the second-largest stock by market capitalisation.

In March 2020, MTN Nigeria shares fell back to the listing price due to lockdowns to slow the spread of the coronavirus.

There have been few initial public offerings in Nigeria since the 2008 global financial crisis, which wiped out more than 60% of the stock market's capitalisation.

The MTN offer includes one bonus share for every 20 purchased, an incentive open to retail investors who hold shares for at least 12 months after allotment.

(Reporting by Chijioke Ohuocha; Editing by Jason Neely and Paul Simao)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
MTN GROUP LIMITED 3.84% 174.34 End-of-day quote.2.13%
MTN NIGERIA COMMUNICATIONS PLC 0.00% 190 End-of-day quote.-3.55%
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Analyst Recommendations on MTN GROUP LIMITED
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Financials
Sales 2021 180 B 11 530 M 11 530 M
Net income 2021 15 926 M 1 023 M 1 023 M
Net Debt 2021 85 945 M 5 519 M 5 519 M
P/E ratio 2021 20,8x
Yield 2021 1,89%
Capitalization 314 B 20 092 M 20 182 M
EV / Sales 2021 2,23x
EV / Sales 2022 1,97x
Nbr of Employees -
Free-Float -
Chart MTN GROUP LIMITED
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MTN Group Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends MTN GROUP LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 174,34 ZAR
Average target price 174,00 ZAR
Spread / Average Target -0,20%
EPS Revisions
Managers and Directors
Ralph Tendai Mupita Group President, CEO & Executive Director
L. Tsholofelo Molefe Group Chief Financial Officer & Director
Mcebisi Hubert Jonas Chairman
Charles Molapisi Chief Information & Technology Officer
Jens Schulte-Bockum Group Chief Operating Officer
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