As part of its customer-focused policy, a leading investment group in Nigeria, Futureview Group has urged its clients to take advantage of the planned Offer for Subscription of 575 million shares of MTN Nigeria through book-building to beef up their portfolios.
Futureview Securities Limited is one of the accredited Stockbrokers to the Offer. The Group Managing Director (GMD) Mrs Elizabeth Ebi, advised the clients to watch out for the Offer this month.
In a statement signed the Head, Corporate Finance, Futureview Financial Services, Mr Solomon Amicki, says MTN’s value would double after the Offer because of the parent company controls over 85 percent of the mobile money market in Ghana.
“ The Central bank of Nigeria recently granted an approval in principle to MTNN and Airtel to operate Pay Service Banks (PSB) with final approval to follow in 6months subject to specific requirements.The value of MTN is tipped to double as MTN already has this blueprint running in Ghana and this has been very successful.The Parent company controls 85% of the Mobile money market in Ghana and they raked in revenues of N84.9bn in 9months through 2021 according to its financial statements.The MTN Momo business in Ghana is similar to what MTN would be able to do in Nigeria. Futureview Analysts are of the opinion that the huge Subscriber base in Nigeria would shift the projected revenue up to N300bn within 12months, “he said.
