MTN Nigeria has announced that it has received approval to list on the Nigerian Stock Exchange (NSE).
This process is set to proceed on 16 May 2019 and will done by way of an introductory listing.
A listing by introduction means the shares of existing MTN Nigeria shareholders will be listed without an additional public sale of shares, after which all MTN Nigeria shareholders will be free to trade their shares on the NSE.
“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 16 May,” said MTN Nigeria CEO Ferdi Moolman.
“This is just the beginning, we still intend to pursue a future public offer giving more Nigerians greater access to the MTN opportunity.”
MTN Group CFO Ralph Mupita said he was pleased MTN was taking this step towards increasing local ownership of the company and building equity capital markets in Nigeria.