MTN Nigeria the “everywhere you go” telecom operator, will be listing its shares on the Nigerian Stock Exchange next year, according to reports.
The planned listing is part of an agreement the telco reached with the Federal Government of Nigeria as it concerns the fine it got slapped with over unregistered sim cards.
The board of directors of MTN Nigeria has already put together a management task team to ensure the listing is done successfully.
In fact, reports have it that Stanbic IBTC Capital Limited (together with its affiliates, The Standard Bank of South Africa Limited and Standard Advisory London Limited) and Citigroup Global Markets Limited have been appointed as the joint transaction advisors and joint global coordinators for the listing.
The report went on to state that more appointments will be done “in due course” in preparation for the listing.
The listing will be subject to suitable market circumstances and conditions and the appropriate approvals from relevant regulators and other stakeholders.
If these bottlenecks are “broken” and the listing is successfully done, it is expected to help deepen the local stock market and attract more unlisted companies to the stock exchange as MTN Nigeria is the biggest telecom operator in the country.