NewsExpress advert Yudala banner
MTN to list in Nigerian Stock Exchange this year: Company source

By Chijioke Ohuocha on 07/02/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 416


MTN Nigeria discussed plans to list on the Lagos stock exchange at a board meeting on Wednesday and aims to launch the IPO this year, a company source told Reuters.

Africa’s biggest mobile phone operator had planned to list its Nigerian unit in 2017, as part of an agreement with the Nigerian government, but delayed the IPO due to market conditions.

The telecoms firm has now revived those plans and is considering hiring a public relations firm to manage communications ahead of the listing in Nigeria in addition to its South African advisers, the source said.

MTN has about 51.4 million subscribers in Nigeria, which accounts for about a third of its revenue.

“There’s a lot of preparation going on due to the listing, which is expected to happen this year,” the source said.

Group Chief Executive Rob Shuter was attending the two-day meeting, which began on Wednesday, the source said.

In 2016 the telecom firm said it would list its local unit on the Nigerian Stock Exchange after agreeing to pay a reduced fine of $1.7 billion in a settlement with the Nigerian government over unregistered SIM cards.

It has appointed Stanbic IBTC Capital, Standard Bank of South Africa, Standard Advisory London and Citigroup Global Markets, as joint transaction advisors and global coordinators, with Stanbic acting as lead issuer.

The Nigerian Stock Exchange has said it was working with MTN on the listing while the Securities and Exchange Commission (SEC) has discussed the IPO and how it could be structured. (Reuters)

 

Source News Express

Posted 07/02/2018 7:38:16 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
FG orders immediate dismantling of all revenue collection...

Ex-Governor, Commissioner docked over N3.1 billion fraud

Boy, 16, runs amok, goes on stabbing spree...

FG gives wealthy tax evaders 90 days to...

Chibok girls: WE’LL STORM ASO ROCK IF ....

BREAKING NEWS: Buhari appoints new ministers

FRSC to deploy 25,000 men for patrol during...

Countdown to guber election: Anambra deserves the best...

Nigeria urges stronger efforts at blocking sources of...

Court jails scavenger for stealing N30, 000 iron...

Season of death: Ambassador slips in bathroom, dies...

7 missing US sailors found dead after collision...

 

Latest News Northern Senators’ Forum sacks Ex-Governor Adamu as Chairman 94 students reported missing after Boko Haram attack on Government Girls Secondary School in Yobe Nigerian bank investors lose N100bn in 2 days How I almost died after giving birth to my daughter — Serena Williams Protests in Ebonyi as gunmen kill ex-Speaker during political rally N650bn debt: DAPPMA gives FG 14-day ultimatum 10 senators face sanctions over elections order We’ll destroy Tel Aviv and kill Israeli Prime Minister if attacked — Iran Senate condemns drug abuse among Nigerian youths •Asks FG to establish rehabilitation centres across the country RRS smashes 6-man criminal syndicate Okonjo-Iweala appointed into Commonwealth high-level group GOC denies involvement in APC Secretariat demolition

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (325,786 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (317,372 views) Shameless Genevieve Nnaji exposes breasts in public (254,023 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (208,431 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (194,490 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (187,347 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (162,908 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (146,231 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (140,162 views) Lagos plane crash: Journalist releases victims’ names (129,239 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (127,774 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (122,928 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (34) Business (2,897) Business Verdict (33) Columnists (803) Complaints & Requests (94) Enterprise & Opportunities (203) Entertainment (446) Features (549) Global Business Monitor (226) International (1,799) Interviews (143) Live Commentary (28) Love Matters (105) News (32,998) Opinion (883) Pidgin (10) Politics (4,510) Religion (680) Sports (1,438) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

Football president George Weah puts Liberian army to the test

 

APO Group Partner

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement