Fidelity bank banner Bayelsa State banner
MTN moves closer to $500m public offer

By Chinyere Joel-Nwokeoma on 25/04/2018

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

Views: 550


 

The Securities and Exchange Commission (SEC) on Wednesday confirmed that MTN Group had finally commenced discussions with the commission on its proposed 500 million dollars Initial Public Offering (IPO). 

A senior management staff of SEC who pleaded anonymity told the News Agency of Nigeria (NAN) in Lagos that MTN had commenced discussion with the commission on the IPO. 

The source told NAN that although talks were ongoing, the company was yet to formally file its application for the IPO.

He said the commission was committed to investors’ protection, and that their interest would be protected in the ongoing discussion.

The source said SEC would remain committed to the development of the nation’s capital market and listing of more multinationals.

Another source at the Nigerian Stock Exchange (NSE), who declined to be mentioned, also told NAN that the NSE had not yet received an official filing from the company.

There were reports recently that MTN Group Ltd. was perfecting plans to raise about 500 million dollars from the sale of shares in its Nigerian business in the first half of 2018.

Standard Bank Group Ltd. and Citigroup Inc. had been advising MTN on the disposal of as much as 30 per cent of its Nigerian unit on the NSE.

MTN had agreed to list the Nigerian unit as part of June 2016 agreement to pay one billion dollars fine for missing a deadline to disconnect unregistered subscribers amid a security crackdown.

NAN reports that MTN recently appointed a Nigerian investment firm, Chapel Hill Denham, as lead manager for the planned sale of 500 million dollars shares in its Nigerian business during the first half of this year.

It also appointed South Africa’s Rand Merchant Bank, Renaissance Capital and Vetiva Capital as joint issuers to the offer.

The telecoms firm also appointed seven placement agents that would help market the shares. (NAN)

Source News Express

Posted 25/04/2018 6:16:42 PM

 

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


 

CLASSIFIED ADS

 

You may also like...
FG releases over N420m to Nollywood

Dispersed Recruits of Nigerian Immigration Service cry out...

Shekarau advises Buhari on education

TRUE CONFESSION: I receive N5,000 for facilitating each...

Why I dumped Italy’s Serie A for Turkey:...

Intersociety demands zoning of Police DIG Operations to...

Student paints El-Rufai's portrait in two minute; sells...

EFCC gathers more facts in case of alleged...

No final decision yet on £3,000 visa bond...

Breaking news: SOLOMON LAR IS DEAD

Buhari’s administration uncoordinated and rudderless — Jonathan

Ogun shuts 5 health institutions

 

Latest News BREAKING: Again, National Assembly postpones resumption •Extends break till October Osun governorship election null and void — Lawyer APC BOT member storms Atiku’s rally, bags query Osun Guber: PDP rejects INEC’s ‘inconclusive’ declaration INEC fixes date for run-off election in Osun Ekiti PDP aspirants vandalise secretariat, reject alleged imposition by Fayose Konga to invest N2.9bn in Kxpress to resolve e-commerce delivery issues in Nigeria Imo 2019: It’s Madumere or never for APC, says Nze Onuoha Obiano, Obi ‘two of the greatest leaders in Nigeria’ Osinbajo, Ambode lead eminent Nigerians to Lolu Akinwunmi’s book launch Three armed robbers shot dead in Ogun Youth development: Nigeria, country of focus, says U.S.

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (396,662 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (376,820 views) Shameless Genevieve Nnaji exposes breasts in public (308,598 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (250,678 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (232,389 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (221,680 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (200,152 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (181,714 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (165,788 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (163,401 views) Lagos plane crash: Journalist releases victims’ names (158,200 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (146,935 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (63) Business & Economy (3,625) Business Verdict (52) Columnists (933) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (547) Features (652) Global Business Monitor (301) International (2,427) Interview (165) Live Commentary (28) Love Matters (144) News (39,089) Opinion (1,110) Pidgin (11) Politics (6,720) Religion (872) Sports (1,703) Stock Watch (34) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Anthony Joshua vs Alexander Povetkin: Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement