NSE: MTN cleared for listing in the Nigerian Stock Exchange
The Nigerian Stock Exchange (NSE) on Tuesday finally approved the listing of MTN Nigeria shares on the nation’s bourse.
The source said that the company, barring unforeseen circumstances, would be listing a total of 20, 354,513,050 at N90 per share on May 16.
The source told NAN that the company had completed all the necessary steps required by the exchange for listing which led to the approval.
NAN reports that MTN Nigeria shares, when listed at N90 per share, will emerge the second largest company on the nation’s bourse after Dangote Cement with market capitalisation of N1.83 trillion.
Mrs Efe Ebelo, SEC Head Corporate Communications, said that the commission had approved the company’s application to be listed on the nation’s bourse by way of introduction.
She said that the company had successfully completed the registration of 20,354,513,050 ordinary shares of N0.02 each with the commission.
NAN reports that the conversion was one of the requirements for listing on the exchange.
“It is a reaffirmation of our long-term commitment to expanding investment opportunities for Nigerians, in addition to providing everyday services to them.
NAN reports that listing on the NSE was one of the conditions reached in the resolution of a N330 billion fine placed on the telco by the Nigerian Communications Commission (NCC) for its inability to disconnect improperly registered SIM cards.