MTN Nigeria Moves Closer to Listing on the Stock Exchange

Ololade Adeyanju/

Nigeria’s mobile telecommunications giant, MTN, is inching closer to being listed on the Nigerian Stock Exchange (NSE).

Reports indicate that the management of NSE is working closely with MTN Nigeria towards achieving this target by the end of 2017.

NSE Chief Executive Officer, Oscar Onyema, was reported to have disclosed at a business conference, on Thursday, that the “pressure on MTN has never been higher to list,” adding the company was working with officials to confirm the details.

MTN’s decision may have been bolstered by the agreement it reached with the Nigerian government to pay a reduced fine of $1.67 billion to settle the penalty imposed on it over unregistered SIM cards.

The company has, reportedly, appointed Stanbic IBTC Capital, Standard Bank of South Africa and Standard Advisory London, and Citigroup Global Markets, as joint transaction advisors and global coordinators.