Today's Latest News For MTN Nigeria Shares Applicants
In today's Latest Update For Applicants Who Bought MTN Shares - we will be discussing what is next after the closure of the MTN Nigeria share offer. So read on!
According to Primaryoffer, Now that the Offer has closed, the allotment process is ongoing and will be concluded shortly, pending approval from the regulatory authorities.
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If you bought the MTN Nigeria share by now you should have received your CSCS number. If you are yet to receive your CSCS number, you will receive a notification before the shares are allotted.
Once your shares have been allotted, they will be credited to your CSCS account.
What is CSCS?
CSCS which means Central Securities Clearing System Plc is Nigeria’s Central Securities Depository (CSD) licensed to carry on the depository, clearing, and settlement of all transactions in the Nigerian Capital Market.
Recall that when buying the MTN Nigeria share, you were required to provide details of your CSCS account and applicants without the CSCS account were subjected to open an investor account CSCS to proceed because it was required to Buy the MTN Shares
The shares will be allotted in line with the SEC Rules, which prescribe that all subscribers receive the minimum application of 20 shares in full, following which the remaining balance shall be allotted proportionately amongst applicants. An expected timetable is included in the Pricing Supplement for guidance purposes.
The Allotment Date will be the date on which the allotment of the shares Is cleared by the SEC. This is typically up to 7 days after the transaction closes and depends on the quantum of applications received.
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The CSCS accounts of successful investors will be credited no later than fifteen (15) Working days from the Allotment Date.
Returned monies will be transferred to the account number stated on your application within five (5) working days of the Allotment Date.
For further inquiries, you can login to your primary offer account or call their support line 070046837862452 or send an email to [email protected] For further inquiries.