Technology
MTN Nigeria reports employee share purchase of over 1.23 million shares
MTN Nigeria Communications Plc has announced that its employee share acquisition programme purchased more than 1.23 million ordinary shares of the company in a transaction valued at about ₦921.8 million.
The disclosure, submitted to the Nigerian Exchange Limited (NGX), showed that the shares were acquired through the company's employee investment scheme, which is recognised as a related party under regulatory rules.
According to the filing, the purchases were completed on June 19, 2026, in Lagos through several transactions carried out during the same trading session. The shares were bought at varying prices ranging from ₦734.16 to ₦753.86 per share, resulting in a volume-weighted average price of ₦747.42.
Company Secretary Uto Ukpanah explained that the filing was made to comply with NGX regulations requiring listed companies to disclose insider dealings. He noted that the transaction forms part of MTN Nigeria's employee share ownership programme, which is designed to increase staff participation in the company's equity.
In total, 1,233,299 shares were acquired through five separate tranches, with the largest portion accounting for more than 773,000 shares.
Market observers say purchases of this nature are often viewed positively because they demonstrate confidence in a company's long-term prospects and strengthen the alignment between employees and shareholders.
The filing also identified the transaction using MTN Nigeria's Legal Entity Identifier (LEI) and noted that the company's board and executive management remain focused on delivering sustainable growth and long-term value for investors.
