MTN Nigeria IPO Teaser – Listing and Precursory Information

Proshare

Friday, June0 1, 2018/09:05 AM / Cordros Capital

Executive Summary

 Proshare Nigeria Pvt. Ltd.

Last year, MTN group announced that its Nigerian business will be listed on the Nigerian Stock Exchange this year, by way of initial public offering (IPO). Significant progress has been recorded vis-a-vis the IPO, which is expected to be concluded next month. 

We establish a compelling investment case for MTNN, considering the company’s impressive track record which is supported by scaled market position and the first-mover advantage. Beyond that, it is difficult to ignore the telco’s new growth initiatives - to be implemented by a sound management team which could potentially propel earnings to new highs over the medium term.

Nigeria’s telecommunication industry – quick facts

Facts

  • Largest telecoms market in Africa
  • Four mobile telecom operators
  • 160.5 million mobile subscribers with teledensity and penetration rate at 114.7% and 75% respectively
  • MTN is the market leader (65.2 million subscribers at 40.7% market share)
  • 101.2 million data subscribers
  • Contributed 9.2% to overall GDP in Q1-18

 
Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

 

5-year historical financial performance and ratios

 

Proshare Nigeria Pvt. Ltd.



Proshare Nigeria Pvt. Ltd.

 

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