MTN Insists It Plans To List On NSE This Year
The back and forth about Africa’s telecoms giant, MTN listing on Nigeria Stock Exchange, NSE, is not ending anytime soon.
Just few days ago, the management of the NSE said despite the noise about MTN listing on NSE, MTN had never come to it to discuss the listing.
But indications have now emerged that MTN Nigeria may indeed be serious about listing on NSE.
It was gathered that MTN Nigeria discussed plans to list on the Lagos stock exchange at a board meeting on Wednesday and aims to launch the IPO this year.
MTN had planned to list its Nigerian unit in 2017, as part of an agreement with the Nigerian government, but delayed the IPO due to market conditions.
The telecoms firm has now revived those plans and is considering hiring a public relations firm to manage communications ahead of the listing in Nigeria in addition to its South African advisers, according to a source who spoke to Reuters.
“There’s a lot of preparation going on due to the listing, which is expected to happen this year,” the source said.
The source also disclosed that MTN’s Group Chief Executive, Rob Shuter, was attending the two-day meeting, which began on Wednesday, and where the IPO was discussed.
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