IHS Nigeria Plc has received the nod of Securities and Exchange Commission (SEC) to register its shares on the floors of the Nigerian Stock Exchange (NSE).
This came a week after IHS received its collocation licence from the Nigerian Communications Commission (NCC) to provide telecoms infrastructure sharing and collocation services. Also, IHS has been awarded the Telecoms Infrastructure Company of the Year by Nigerian Telecoms Awards.
SEC noted in the approval letter given in Abuja on September 18, that approval is being given to the company to register the entire 4.4 billion ordinary shares of 50k each, in accordance with the Investment and Security Act of 2007 and the commission's rule and regulations and having thoroughly scrutinised the books and documents presented for approval.
With the approval, the company is now set to be listed on the floors of the Stock Exchange and this is coming on the heels of IHS Nigeria PLC collection of Collocation License to provide Telecom Infrastructure Sharing and Collocation Services throughout the country from the telecom regulator; the Nigerian Communications Commission, which was also given last week to the company in Abuja.
The Collocation License was awarded to the company after finding IHS to have the technical, financial and logistical requirements to provide the services.
Mr. William Saad, managing director, said by the approval from SEC, which is a precondition for listing on the floors of the Nigerian Stock Exchange, IHS is now set to provide state-of-the-art telecom infrastructure for the industry and determined to bring telecommunication to the underserved areas of the country. He also said that the shareholders of the company are now set to have quick and good returns on their investment as the shares of the company will soon be available on the floors of the stock market.
IHS Nigeria Plc is a pioneer in the various aspects of telecom infrastructure services ranging from the building of telecom infrastructure to the management (O&M) and collocation aspects. IHS was setup in 2001 as the Nigerian Communications Commission opened the telecommunications market and licensed MTEL, MTN and Econet (currently Zain) to provide GSM services before eventually licensing two more (Globacom and Etisalat) and several CDMA and other PTOs.
IHS has built telecom infrastructure in more than 30 states and has offices in Lagos, Abuja, Benin, Kogi, Akwa Ibom, and Port Harcourt. IHS is also licensed by NCC to carry out supply, installation, and maintenance of telecommunications network under the Nigerian Communications Act of 2003.
IHS has made considerable investments in human resources with a specialist and well-trained staff strength of several hundreds ensuring high quality deployment targets are met. Since its establishment, IHS has developed a niche in its area of service delivery, thereby earning the confidence of its growing clients. It has strategic branch offices and warehouses in Nigeria for the purpose of effective and efficient service delivery to its growing number of clients.
