The MTN Group’s Series 1 offer to sell 575 million shares to Nigerian investors was oversubscribed by 139.47 percent. The public offering, which took place in December, was oversubscribed by 82.25 million dollars. According to a statement released by the telecommunications operator, the oversubscription increased the number of shares sold from 575 million to 661.25 million. The public offer was implemented by way of a book-build to qualified institutional investors and a fixed price offer of N169.00 per share to retail investors. The statement further disclosed that approximately 76 per cent o…