Just In: MTN Finally Ready To Enlist On Nigeria Stock Exchange

Telecom giant, MTN Nigeria on Thursday finally disclosed that it will list its shares on the Nigerian Stock Exchange in 2017.

It is can be recalled that this was part of the conditions for resolving the heavy fine which was slammed on it by the Nigerian Communications Commission (NCC).
The fine for failing to disconnect unregistered subscribers was later reduced from N1.4 trillion to N330 billion after a series of negotiations.
According to a statement from its group corporate affairs; “MTN Nigeria is pleased to announce that its Board of Directors has resolved to proceed with preparations for a listing of MTN Nigeria on The NSE as soon as commercially and legally possible and has established a management task team with the responsibility to guide the company towards a listing. At present, MTN Nigeria is targeting that the listing takes place during 2017, subject to suitable market conditions.”
It said Stanbic IBTC Capital Limited with its affiliates, The Standard Bank of South Africa Limited and Standard Advisory London Limited and Citigroup Global Markets Limited have been appointed as the joint transaction advisors and joint global coordinators for the listing.
A full syndicate including Nigerian receiving agents, Nigerian receiving banks and other advisers will be appointed “in due course”, the company said.

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