MTN Nigeria Registers 20.355 billion Shares of 2 Kobo Each With SEC

By Dipo Olowookere

The management of MTN Nigeria Communications Plc has finalised the registration of 20,354,513,050 ordinary shares of N0.02 each with the Securities and Exchange Commission (SEC).

Chief Executive Officer of the telecommunications giant, Mr Ferdi Moolman, confirmed this development in a statement issued on Tuesday.

“I am excited we have achieved another milestone in our listing process and want to thank the SEC and the Corporate Affairs Commission (CAC) for supporting us through the process.

“We have now begun to engage with the Nigerian Stock Exchange (NSE) to complete the listing process,” Mr Moolman was quoted as saying in the statement.

MTN Nigeria plans to list its shares on the local stock exchange by introduction and the process is expected to be completed before the end of first half of 2019.

MTN Nigeria is the market leader in the Nigerian telecomunications industry. The company was the second to launch GSM network services in the country in 2001 after Econet, which presently operates as Airtel.