MTN is one of the largest telecommunication company in Nigeria. The South African Network company also have locations in other countries and Nigeria is MTN’s biggest market.
Nigerian unit of MTN network released a statement that it would prefer to list on the Nigerian Stock Exchange on Thursday, a spokesman for the South African firm said on Tuesday.
“We are aiming to list but we can’t give you a hard date,” he said, adding that Thursday was the company’s preferred date, although Wednesday and Friday this week and Wednesday and Thursday next week are also options. (Reporting by Paul Carsten and Chijioke Ohuocha; Editing by Alexander Smith)
What you need to know about MTN listing on the Nigerian stock exchange
- The number of shares allocated
- Estimated share price
The SEC Head, Corporate Communications, Mrs Efe Ebelo, confirmed this to the News Agency of Nigeria (NAN) in Lagos.
Ebelo said the commission has approved the company’s application to be listed on the nation’s bourse by way of introduction.
She said that the company has successfully completed the registration of 20,354,513,050 ordinary shares of N0.02 each with the commission.
MTN Nigeria had on May 6 filed an application with SEC and the exchange for listing by introduction.
SEC recently said that it received an application from MTN requesting registration of their existing securities.
“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,” Ebelo said.
The SEC Acting Executive Commissioner, Corporate Services, Mr Henry Rowlands, told NAN that the commission was committed to