MTN Group Ltd. asked the Nigerian Securities
& Exchange Commission for permission to
proceed with a listing of its shares, according
to two people familiar with the matter.
The company, Africa’s biggest mobile-phone
company by subscribers, applied to the Abuja-
based SEC for a registration of shares and a
listing on the Nigerian Stock Exchange, said
the people who asked not to be identified
because they’re not authorized to speak
publicly about the matter.
MTN appointed former Nigeria central bank
Governor Lamido Sanusi to its board on
Friday as part of the preparation for the
listing and after the conversion of its Nigerian
unit into a public company last week. The
listing in Africa’s most populous nation is a
condition of the settlement of a $1 billion
regulatory fine three years ago.