MTN Nigeria Communications Plc has announced that it has successfully listed on the premium board of the Nigerian Stock Exchange (NSE).
MTN Nigeria says the listing on the NSE will create a new telecoms and technology asset class for investors and provide an opportunity for a wider group of Nigerians to participate in the MTN investment story.
It also said the listing would deepen Nigeria’s equity capital markets and attract new portfolio investment over time.
All MTN Nigeria shareholders will now be able to freely trade their shares on the NSE.
Commenting on the development, National Council President, NSE, Abimbola Ogunbanjo, said: “We are particularly pleased that MTN Nigeria has joined the prestigious club of companies listed on our Premium Board with this landmark transaction, which will differentiate it as a professionally run telecommunications company with high standards, having met The NSE’s listing criteria.
“It is our expectation that the MTN Nigeria listing, which is the NSE’s 2nd largest, will encourage other telecommunication companies to list their shares on The Exchange, thereby opening the sector up to cheaper, long term capital that will boost innovation and development.”
NSE Chief Executive Officer, Oscar Onyema, said: “We are delighted to welcome MTN Nigeria to the Exchange. Today’s listing is a promising development in the country’s telecommunications sector and we encourage other players in the sector to explore the different opportunities in the capital markets for raising long term capital.
“This listing will promote liquidity for MTN Nigeria, enhance its value and increase transparency, as our platform remains one of the best avenues for raising capital and enabling sustainable growth for national development.”
On the announcement, MTN Nigeria Chairman, Pascal Dozie, said: “I am delighted that we can expand this impact further today, by enabling investors to trade our shares on the NSE.”
MTN Chief Executive Officer, Ferdi Moolman, said: “We’ve evolved from an ambitious start-up at the genesis of a new and emerging industry, to a business that is able to touch lives in every corner of Nigeria.
“We are only beginning to tap into the opportunities that connectivity enables and are fully focused on investing to connect every Nigerian, and to make social innovations like mobile electricity and high impact mobile solutions in education, healthcare and agriculture available in communities everywhere.”