Securities and Exchange Commission (SEC) has said it had approved MTN Nigeria’s application to list on the Nigerian Stock Exchange (NSE).
SEC spokesperson, Efe Ebelo, said on Wednesday that MTN Nigeria’s application was approved by way of introduction.
MTN had on Tuesday announced that it had successfully completed the registration of 20,354,513,050 ordinary shares of N0.02 each.
“They have applied for listing by introduction which will enable the company to be listed and allow shareholders sell their shares on the floor of the exchange,” Ebelo said.
MTN Chief Executive Officer, Fredi Moolman, said the listing was part of its 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.
“We look forward to continuing our engagement with the SEC and NSE to take forward the listing process,” Moolman said.