MTN Announces Successful Registration of Ordinary Shares With SEC
MTN Nigeria Communications Plc (MTN) today announced that 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).
Speaking on the announcement, the MTN CEO, Ferdi Moolman, commented: “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.”
Recall, Moolman had said the listing was part of MTN’s commitment to localisation in the markets in which it operates.
“Our conversion to a Plc is a major step towards listing by introduction on the Nigerian Stock Exchange in the first half of 2019.
“It is a reaffirmation of our long-term commitment to expanding investment opportunities for Nigerians, in addition to providing everyday services to them.”
MTN Nigeria is one of Africa’s largest providers of communications services, connecting over 60 million people in communities across the country with each other and the world. Guided by a vision to lead the delivery of a bold new digital world, MTN Nigeria’s leadership position in coverage, capacity and innovation has remained constant, since its launch in 2001. MTN Nigeria is part of the MTN Group – a multinational telecommunications group which operates in 21 countries in Africa and the Middle East.