MTN has appointed Nigerian investment firm Chapel Hill Denham as lead issuing house for the initial public offering of its Nigerian business in Lagos later this year, two sources told Reuters on Friday.
South Africa’s Rand Merchant Bank, Renaissance Capital and Vetiva Capital were picked as joint issuers. The telecoms firm also appointed seven placement agents that would help market the offering, the sources said.
It would be recalled that MTN Group met with the federal government recently as part of its commitment to Nigeria and assures the government of its commitment on the planned IPO and diversification of shareholding to Nigerians.
The high-powered delegation led by its Mr. Phuthuma Nhleko, chairman; Rob Shuter, group chief executive officer; and Mr. Pascal Dozie, board chairman, MTN Nigeria, met with Vice President Yemi Osinbajo at the Aso Rock Villa.
The delegation also include other MTN Nigeria board members amongst who were Colonel Sani Bello (rtd); Chief Victor Odili; Mr. Tunde Folawiyo; Mr. Gbenga Oyebode; CEO, MTN Nigeria, Mr. Ferdinand Moolman and the Corporate Relations Executive, Mr. Tobechukwu Okigbo.
The telecom giant’s entourage also held separate meetings with the Senate President, Bukola Saraki; Minister of Communications, Adebayo Shittu, and CBN Governor, Godwin Emefiele.
They also visited the Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Danbatta, who commended MTN for the incredible work it is doing in the communication sector and reiterated the commission’s commitment to the growth of the sector.