Tuesday, May 07, 2019 / 06.30AM / SEC Nigeria
The Securities and Exchange Commission, SEC, yesterday Monday, May 06, 2019 said it could now confirm receipt of an application from MTN Nigeria requesting for registration of their existing securities on the floor of the Nigerian Stock Exchange (NSE).
The company applied for listing by way of introduction which will enable it to be listed and allow its shareholders sell their shares on the floor of the Exchange.
Thee company’s application is currently receiving attention by the capital market’s apex regulator.
MTN one of the biggest telecommunications firm in Sub-Saharan Africa has been in the news with plans to list on NSE, a move which several analysts have described as potentially the biggest listing in Nigeria in several years.
The Telco recently announced that it had converted into a Public Limited Liability Company, Plc.
It also named to its board the Emir of Kano Mohammed Lamido Sanusi II (Former Central Bank of Nigeria Governor).
With SEC’s confirmation of receiving a formal application the stock market has braced up for MTN’s eventual listing.