MTN Nigeria will list its shares on the Nigerian Stock Exchange in 2017, the telecoms giant said on Thursday.




Stanbic IBTC Capital Limited (together 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.

Stanbic will be the lead issuing house.

A full syndicate including Nigerian receiving
agents, Nigerian receiving banks and other
advisers will be appointed “in due course”, the company said, maintaining, however, that the proposed listing “would be subject to suitable market circumstances and conditions and the appropriate approvals from relevant regulators and other stakeholders”.

It earlier announced its intention to list
after the reduction of its fine by the Nigerian
Communications Commission (NCC) but did not give a specific time.

MTN Nigeria’s fine for failing to disconnect
unregistered subscribers was reduced from
N1.4 trillion to N330 billion after a series of
negotiations.

It then announced that as part of
the settlement arrangement, it would list its
shares on the NSE “as soon as commercially
and legally possible”.


“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,” the statement from its group corporate affairs said.

MTN Nigeria is the biggest operator in Nigeria and its eventual listing is expected to boost the Nigerian capital market and create wealth for Nigerians.

The group announced its first half-year (H1)
loss in at least 20 years following the NCC fine.

Lalasticlala

https://www.thecable.ng/breaking-mtn-nigeria-list-nse-2017