MTN Nigeria changes status to a public company ahead of June IPO

The Chief Executive Officer of MTN Nigeria, Mr Fredi Moolman, earlier today confirmed that the telco has converted from a limited liability company to a public limited liability company ahead of its planned listing on the Nigerian Stock Exchange.

Explaining the move, Mr Moolman stated that it is part of the requirement necessary for the company’s eventual listing on the Nigerian bourse.

“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.”

MTN Nigeria‘s Initial Public Offering on the Nigerian Stock Exchange is expected to happen before the end of June this year.

It has been one of the most anticipated IPOs in Nigeria, thanks in part to the status of the company as the leading telecom operator in Nigeria, as well as the many controversies that have heralded it.

More details coming soon…

Source: Nairametrics

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