Edit Content

MTN Nigeria Formally Applies For Listing By Introduction On The Nigerian Stock Exchange

MTN Nigeria

Nigeria’s telecommunications giant, MTN Nigeria, has officially applied for listing by introduction on the Nigerian Stock Exchange (NSE). The disclosure was made on Monday by the Securities and Exchange Commission (SEC).

Head of Corporate Communications of SEC, Mrs. Efe Ebelo, said in a statement to reporters: “MTN Nigeria has 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. SEC can confirm that we are in receipt of an application from MTN requesting for registration of their existing securities. Presently, their application is receiving attention.”

MTN Nigeria To Meet Requirements To Get Listed On The Local Bourse.

Start Your Business in 30 Days Even If You Don't Have An Idea
Start Your Business in 30 Days Even If You Don’t Have An Idea

Introductory to its listing on the local bourse, MTN Nigeria recently said it has finalized its conversion from a private company to a public liability company (Plc.). The firm, earlier in the year, declared plans to list before July after failing to do so last year as promised.

The listing is, however, subject to the resolutions of the current court case over alleged $2 billion tax defaults. The transition to a Plc is, therefore, a legal requirement and a key milestone in the preparatory process for MTN’s listing by introduction on the NSE, analysts say.

Speaking on the announcement, MTN CEO, Ferdi Moolman, said, “MTN’s proposed listing on NSE will create a new telecoms asset class for investors and also provide a wider group of Nigerians with a chance to take part in the MTN investment opportunity.”

“Our conversion to a Plc. is a major step towards listing by introduction on the Nigerian Stock Exchange in the first half of 2019. It is a confirmation 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,” Ferdi concluded.

MTN To Become Second Largest Company Quoted On The NSE.

In the meantime, capital market operators have praised MTN Nigeria’s application to SEC for listing by introduction, saying that it would expand market liquidity. The market operators stated this in an interview with the News Agency of Nigeria (NAN).

Uche Uwaleke, a research fellow at SEC, while commenting on the development, said, “the market capitalisation of NSE would be deepened with the coming of MTN. We are looking at additional N2 trillion being added to market capitalisation and it will make MTN the second largest quoted company in Nigeria after Dangote Cement,” he said.

MTN To Write Its Success Story With The Nigerian Capital Market.

Uwaleke believes that listing MTN Nigeria on the NSE would help in product diversification at the exchange citing that it is a door opener for other transnationals especially those in the telecommunications sector such as Globacom and Etisalat, etc. to come and be part of the success story of the Nigerian capital market.

MTN Nigeria In Brief.

MTN Nigeria is a part of the MTN Group based in Johannesburg, South Africa. The company is the largest telecommunication network in Nigeria by market share, with an overriding focus on being the catalyst for Nigeria’s economic growth and development through the provision of world class communications.

Entrepreneurship is a lonely journey, let us help you get through it with our services.



Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Join Entrepreneurs Family

No spam, only business insights and tips. 

Entrepreneurs Sign Up

Business Registration

Most Popular

Join Entrepreneurs Family

No spam, only business insights and tips. 

Entrepreneurs Sign Up

Related Posts

Why Entrepreneurs Embrace Business Education

Why African Entrepreneurs Embrace Business Education

Why do African entrepreneurs embrace business education? Entrepreneurs are the lifeblood of economic progress, with small and medium-sized enterprises (SMEs) making up 90% of all businesses. These SMEs are more than just companies; they are the engines of job creation, contributing “up to 40% of national income (GDP) in emerging

Incorporating Mindfulness into Your Business Routine

Disclaimer- Presented by BetterHelp. Incorporating mindfulness into your business routine has many benefits. In the often chaotic world of business ownership, finding moments of calm and focus can be incredibly difficult. However, integrating mindfulness practices into your daily routine can offer numerous benefits, both for your personal well-being and your

How to Manage Anxiety in High-Stakes Business

Disclaimer- Presented by BetterHelp. How do you manage anxiety in high-stakes business? From client presentations to high-dollar sales calls, there’s no shortage of anxiety-inducing situations in high-stakes businesses. However, when your business’s success relies on your self-confidence and ability to perform, there’s no room for anxiety. So, what can you

How to Combat Isolation in Entrepreneurship

Disclaimer- Presented by BetterHelp. How do you combat isolation in entrepreneurship? Despite what you might see on social media, being an entrepreneur can be an incredibly challenging and lonely journey, especially for new entrepreneurs and small business owners. While many entrepreneurs are surrounded by employees, clients, and colleagues throughout the

Scroll to Top

Join Entrepreneurs Family!

Get access to FREE business insights and funding opportunities daily.

Entrepreneurs Sign Up