The move by the MTN Group to offer 14 per cent of its 78.8 per cent shares in MTN Nigeria to Nigerians will boost its stock market liquidity by N375bn, analysis of data has shown. The company recently said through its Group President and Chief Executive Officer, Ralph Mupita, that the group planned to sell14 per cent of MTN Nigeria to Nigerian investors. Mupita had said, “MTN Nigeria, in which MTN Group has a 78.8 per cent stake, sought to have the largest retail shareholder base on the Nigerian Stock Exchange, where it has a market capitalisation of N3.4tn ($8.2bn).” Also, speaking on CNBC AFRICA, CEO, MTN Nigeria, Karl Toriola, said, “In the short-medium term, MTN Group would like to sell about 14 per cent of its stake in MTN Nigeria, with the focus primarily on retail investors. “Our plan is to have the largest base of Nigerian retail investors. We are hoping for a number and without committing to the market precisely because it depends on the uptake but we think there is significant enactment about this.

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