The shares of Nigeria’s biggest telecoms operator, MTN, can be publicly traded on the Nigerian Stock Exchange (NSE) from today May 16, the company announced.
In a statement, MTN said it has received approval to list on the Premium Board of the NSE and it will be done by way of an introductory listing.
In simpler terms, there will not be an additional public sale of shares but the shares of existing MTN Nigeria shareholders will be listed. What this means is that all MTN Nigeria shareholders will be free to trade their shares on the NSE.
Ferdi Moolman, chief executive officer of MTN Nigeria said “It gives me great pleasure to confirm that the official listing via introduction of MTN’s shares on the NSE will take place on Thursday May 16.”
“We appreciate the continued support afforded us by the government, regulators and people of this great nation. In particular, I would like to thank the staff and management of MTN Nigeria who worked tirelessly to make this day possible. This is just the beginning, we still intend to pursue a future Public Offer giving more Nigerians greater access to the MTN opportunity.”
MTN Group chief financial officer CFO, Ralph Mupita said “As MTN Group we are very pleased that we are taking this first and important step towards increasing the local ownership of the company, and building the equity capital markets in Nigeria”
Despite its several run-ins with the Nigerian government, MTN Nigeria has been recording positive performance.
Recently, it announced its earnings for the first quarter ended March 31, 2019 recording 13.4% growth in service revenue. This was driven by a 12.7% and 32.4% rise in voice and data revenue respectively and the addition of 2.1 million active mobile subscribers to the network.
The company announced Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) of N150.4 billion and expanded EBITDA margins to 53.3% (44.2%, on an IAS 17 basis) “due to growth in revenue and effective cost management.”
As an Amazon Associate, TechCity may earn a small commission if you shop these products.
3-Pack [3.3FT+6.6FT+10FT] 60W USB C to USB C Cable, Type C to Type C Cable,Fast Charging Cable Compatible with iPhone 15/Plus/15 Pro/Pro Max，Samsung Galaxy S23 S22, iPad Pro, MacBook Air and More
$9.83 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
WaterWipes Plastic-Free Original Baby Wipes, 99.9% Water Based Wipes, Unscented & Hypoallergenic for Sensitive Skin, 60 Count (Pack of 12), Packaging May Vary
$39.97 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Monster Energy Zero Ultra, Sugar Free Energy Drink, 16 Fl oz (Pack of 15)
$23.85 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
LaCroix Sparkling Water, Peach-Pear, 12 Fl Oz (pack of 8)
$2.50 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
STANLEY IceFlow Stainless Steel Tumbler with Straw, Vacuum Insulated Water Bottle for Home, Office or Car, Reusable Cup with Straw Leak Resistant Flip
$35.00 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
All-new Amazon Fire HD 10 tablet, built for relaxation, 10.1" vibrant Full HD screen, octa-core processor, 3 GB RAM, latest model (2023 release), 32 GB, Black
$139.99 (as of April 23, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Charger for Lenovo Laptop Computer 65W 45W Round Tip Power Supply AC Adapter for Lenovo IdeaPad 330-14, 330-15, 330-17, 510-15, 330s-14, 330s-15 Lenovo Flex 6-14 Laptop Charger
$9.90 (as of April 23, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Mac Book Pro Charger - 118W USB C Charger Fast Charger for USB C Port MacBook pro/Air, ipad Pro, Samsung Galaxy and All USB C Device, Include Charge Cable（7.2ft/2.2m）
$29.97 (as of April 23, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Charger for HP Laptop Computer 65W 45W Smart Blue Tip Power Adapter
$9.90 (as of April 23, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
