Telecom
MTN Nigeria Completes Registration of Ordinary shares with SEC
MTN Nigeria Communications Plc said it has successfully completed the registration of 20,354,513,050 ordinary shares of N0.02 each with the Securities and Exchange Commission (SEC).
The completion of this process sets in motion the next steps in MTN’s intended listing by introduction on the Nigerian Stock Exchange (NSE).
Ferdi Moolman, MTN CEO, Speaking on the announcement, said “I am excited we have achieved another milestone in our listing process and want to thank the SEC and the Corporate Affairs Commission (CAC) for supporting us through the process.
“We have now begun to engage with the Nigerian Stock Exchange (NSE) to complete the listing process.”
It would be recalled that earlier in the year, Rob Shuter, President and Chief Executive Officer (CEO) of MTN Group, confirmed that the telco will list on the Nigerian Stock Exchange (NSE) in the first half of this year.
Market analysts believe that MTN Nigeria’s listing on Nigerian Stock Exchange will enhance both domestic and international investors’ confidence in the Nigerian stock market.