MTN Nigeria To Be Listed On The Stock Exchange Today, May 16
The Oasis Reporters
May 16, 2019
The South African telecommunications giant in Africa’s biggest economy,
MTN Nigeria Communications Plc said it has secured the requisite regulatory approval to list its shares on the Nigerian Stock Exchange (NSE) today.
The Telecom’s giant issued a statement, saying it is “pleased to announce that it has received approval to list on the Premium Board of The Nigerian Stock Exchange (NSE). The listing is set to proceed on 16 May 2019 and will be done by way of an introductory listing.
“The listing by introduction means that the shares of existing MTN Nigeria shareholders will be listed without an additional public sale of shares. From this point, all MTN Nigeria shareholders will be free to trade their shares on the NSE. ”
Its CEO, Ferdi Moolman confirmed the approval and listing date.
He said: “It gives me great pleasure to confirm that the official listing via introduction of MTN’s shares on the NSE will take place on Thursday May 16.
It will be recalled that with the deregulation of Nigeria’s telecommunications sector under the President Olusegun Obasanjo regime about 20 years ago, MTN in South Africa which was a small number three in market share made a determined bid and entry into Nigeria, and leveraged on the huge Nigerian population without such services. Sooner than later with the added Nigerian numbers topped the billing as Africa’s leading telecommunications giant.
