SEC Insists MTN Has Filed No IPO Application
Africa’s largest telecommunications company, MTN’s planned listing on the Nigerian Stock Exchange has been on the cards for a while.
But for many times, the market regulator, the Securities and Exchange Commission (SEC), had said it was only a rumour, and that the telecom company hadn’t approached it officially with the plan to list.
MTN had always parried the question on steps it has taken with the regulators, concerning the planned listing.
But on Friday, while speaking at the commission’s second post Capital Market Committee (CMC) meeting in Lagos, Ms Mary Uduk, SEC Acting Director-General reiterated that it had not received any official application from MTN despite media hype on the offer.
“Let MTN file first and the day they tell you they have filed, watch us and count. Not what you see on the pages of newspapers. Let MTN file their application today and then watch us.
“If you like come and stay in the commission to monitor. I will make an exception. I will open the commission to the press. Do you understand? That is the seriousness, we deal with everything that surrounds MTN.”
She added: “Let them just file, please tell them to file and leave the heat at the side of the commission because as we speak and as far as we know, MTN is still a private company until they convert to a public company and then file application with us.”
Uduk said that the commission was ready for MTN’s application and would ensure speedy process once filed.
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