MTN Nigeria completes registration of 20.345 billion ordinary shares with SEC.
MTN Nigeria on Tuesday (7th May, 2019); announced that it has finally completed registration with the Securities and Exchange Commission (SEC). The Telecoms giant registered 20.345 billion (20,354,513,050) ordinary shares of N0.02 each. According to Ferdi Moolman, the Chief Executive Officer of MTN Nigeria; the MTN Nigeria registration with SEC, is another milestone towards the company’s intent to listing by introduction on the Nigerian Stock Exchange (NSE).
In his own words, Ferdi Moolman said; “I am excited that we have achieved another milestone in our listing process and we want to thank SEC and the Corporate Affairs Commission (CAC) for supporting us through the process. We have now begun to engage with the NSE to complete the listing process.”
Last month (April 2019), MTN Nigeria also converted from a private to a public company; as a stepping stone to the NSE listing process. Read about it HERE
Nigeria is amongst the largest markets in the MTN portfolio and is also a key element in the company’s growth strategy. Listing in the NSE allows MTN Nigeria shareholders to sell their shares on the floor of the Exchange. It will also help MTN Nigeria provide a chance for a wider group of Nigerians to invest in the company’s opportunities; and lastly, it will help the MTN Group in its commitment to localizing in the market where it operates.