MTN to list on NSE in 2017

0
217

Telecommunications giant, MTN Ni- geria, on Thursday, announced plans to list its shares on the Nigerian Stock Exchange next year.
MTN, in a statement by its Public Relations and Protocol Manager, Funso Aina, said that the planned listing of its shares on the Exchange was part of the arrangement for a settlement with the Federal Government.
“The Board of Directors has resolved to proceed with preparations for a listing of MTN Nigeria on the NSE as soon as commercially and legally possible, and has established a management task team with the responsibility to guide the company towards a listing.
“At present, MTN Nigeria is targeting that the listing takes place during the year 2017, subject to suitable market conditions,” the company said.
MTN further said that it had appointed 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 (‘Citi’) as Joint Transaction Advisors and Joint Global Coordinators, with Stanbic acting as Lead Issuing House.
“A full syndicate, including Nigerian receiving agents, Nigerian receiving banks and other advisers would be appointed in due course, as appropriate.
“The proposed listing would be subject to suitable market circumstances and conditions and the appropriate approvals from relevant regulators and other stakeholders,” the com- pany said.