Etisalat Nigeria shares for sale

Premium Telecommunications Holdings Limited (PTHL) is offering for sale shares in Etisalat Nigeria, totaling around 17.5% holding in the company.

The offer priced at US$10 per share, is worth around US$350 million or N56 billion at a conversion rate of N160 to the dollar.

The placement is being done to enable a greater number of Nigerian nationals and companies to participate in the opportunity. By acquiring shares in PTHL, potential investors will acquire indirect interests in Emerging Markets Telecommunications Services (EMTS).

Etisalat is a United Arab Emirates-based provider of telecommunications services and a publicly listed company on the Abu Dhabi Securities Market with a market capitalisation of US$27 billion as of September 30, 2008. The company was established in 1976 and 60 percent is owned by the United Arab Emirates government with the balance owned held by the public.