NO-NONSENSE TELECOM profit drivers, and telecommunication strong breed, MTN Nigeria, is progressively driving its telecom investment in the country towards public quoted company—plc. It sees this as reaffirmation of its long-term commitment to expend its investment and provide everyday services for Nigerians.
Towards this, Nigeria’s Securities and Exchange Commission, SEC, has approved MTN Nigeria’s application for listing on Nigerian Stock Exchange, NSE, by introduction. MTN Nigeria has successfully completed the registration of 20,354,513,050 Ordinary Shares of N0.02 each with the Commission.
Fredi Moolman, MTN Chief Executive Officer, according to NAN, said the listing was part of its commitment to localize the markets in which it operates. “Our conversion to a Plc is a major step towards listing by introduction on the Nigerian Stock Exchange in the first half of 2019”.
Moolman said: “It is a reaffirmation of our long-term commitment to expanding investment opportunities for Nigerians, in addition to providing everyday services to them. We look forward to continuing our engagement with the SEC and NSE to take forward the listing process”.
Efe Ebelo, Head, Corporate Communications, SEC, confirmed that the commission has approved MTN Nigeria’s application to be listed by introduction. “They have applied for listing by introduction which will enable the company to be listed and allow shareholders sell their shares on the floor of the exchange”.
Henry Rowlands, Acting Executive Commissioner, Corporate Services, SEC, said the commission was committed to work with MTN Nigeria. “SEC is committed to work with them, when they list by way of introduction naturally it will translate to public offering by and large”.