Airtel Nigeria officially applies to be listed on Nigeria Stock Exchange (NSE)
Just a month after MTN Nigeria successfully received SEC’s approval for its NSE listing and also registered 20.345bn ordinary shares; Airtel Nigeria, have also officially applied to follow in the same process.
According to reports, one of Nigeria’s foremost telecommunications services provider; Airtel Nigeria Limited have filed an application with the Securities and Exchange Commission (SEC) to list its shares on the Nigerian Stock Exchange (NSE). The application is currently under SEC’s review and examination for compliance with rules and regulations. Upon meeting the requirements for listing on NSE, Airtel Nigeria’s application will be given express consideration.
Airtel mobile network covers over 70% of Nigeria’s population and also its 3G coverage ratio is over 41%. Airtel’s distribution network spreads across over 40,000 retail outlets with over 332,042 retailers.
According to Nigerian Communications Commission (NCC) Executive Vice Chairman, Prof Umar Danbatta, MTN’s listing on the NSE was a precedent for other mobile network operators to follow suit. Now Airtel Nigeria is in the process.