MTN to List on the Nigerian Stock Exchange in 2017

Telecommunications giants, MTN Nigeria has announce the decision to list its shares on the Nigerian Stock Exchange in 2017, the cableng is reporting.

MTN Group CEO Sifiso Dabengwa; credit: PM News
The information is contained in a statement by the company. It states “MTN Nigeria is pleased to announce that its Board of Directors has resolved to proceed with preparations for a listing of MTN Nigeria on The NSE as soon as commercially and legally possible and has established a management task team with the responsibility to guide the company towards a listing. At present, MTN Nigeria is targeting that the listing takes place during 2017, subject to suitable market conditions.”

The announcement, according to market observers, is in partial fulfillment of the company’s bargain arrangement with the Federal Government. Recall that MTN earlier announced its intention to list after the reduction of its fine by the Nigerian Communications Commission (NCC) but did not give a specific time.


Stanbic IBTC Capital Limited (together with its affiliates, The Standard Bank of South Africa Limited and Standard Advisory London Limited) and Citigroup Global Markets Limited have been appointed as the joint transaction advisors and joint global coordinators for the listing.Stanbic will be the lead issuing house.

A full syndicate including Nigerian receiving agents, Nigerian receiving banks and other advisers will be appointed “in due course”, the company said. It also indicated that the proposed listing “would be subject to suitable market circumstances and conditions and the appropriate approvals from relevant regulators and other stakeholders”.


Analysts are of the opinion that the listing is expected to boost the Nigerian capital market and create wealth for Nigerians since MTN Nigeria is the biggest telecommunications operator in Nigeria.

OJPals, what do you think? Tell us in the comments!

@OJ’s Blog EXCLUSIVE
Email: olumidejohnson.blogs@gmail.com

Comments

Post a Comment

Popular posts from this blog

Slavery: See How White Slave Traders Dehumanised Naked Black Slave Women

Image
Sexual assault of black female folks was paramount during the slave trade era as perpetrated by white people who degraded their Africans to assets rather than human beings.  Sexual assaults of female black slaves by white male plantation owners, their sons, brothers and other male acquaintances were heartlessly perpetrated unhindered in the 15th and 19th centuries before its abolition. Black women were technically degraded to objects for hard work and pleasure with no real value attached to their feelings. History recorded that black women were raped and dehumanized without fear of punishment. The reasons of their white owners couldn't be justified as they smelt of share hatred and xenophobia for their skin colour. Black men were also sexually abused by slaveholders, and sometimes, their wives were not spared from the ill-treatment as they worked tirelessly on farmlands with stipends that amounted to virtually nothing. The slave trade refers to the transatlantic tradi...
Read more

Get in Here, Ladies! Tyson Beckford Strips for Massive Eggplant Selfie on Instagram; Fans React

Image
Tyson Beckford is getting older, but the actor and supermodel has refused to quit taunting his Instagram fans with explicit photos. Moments ago, Beckford stripped down to his underwear, showing off his massive meat print and the 45-year-old hunk went on to brag about his anatomy. “Since my team don’t want me posting pics with gunz, as a concealed weapons licensed owner, I give you my .44 Magnum!” he said, sending Instagram on yet another meltdown. In April 2015, the famous black supermodel stripped butt naked for the gram just to promote his new movie, ‘Chocolate City’ where he went nude for the camera in a role as a stripper. Now, he is back, and already fans are flooding his page with comments. See some of the reactions: OJPals, what do you think? Tell us in the comments! @OJ’s Blog  EXCLUSIVE
Read more

‘Queen of SnapChat’ YesJulz Sex Tape Hits the Internet, and it’s Horrible

Image
YesJulz’ sex tape has finally hit the internet. The tape which shows the acclaimed ‘Queen of Snapchat’ having sex with a male photographer was leaked by two people she recruited to work with her. According to  Bossip , the two people – a Miami-based fitness model, Hencha Voigt, and another man, Wesley Victor – hacked into Julz’ phone, got her explicit photos and the sex tape YesJulz recorded. The duo then threatened to release them to the public within 24hrs if she didn’t pay them $18,000 cash. The Miami Beach Police said that Voigt and Victor sent Julz some of the pictures and videos as proof. “ 18K cash … you can have them back as I said you dope chick. I like your movment look if I feel any fun business game over your choice,”  Victor said in his message to Julz last week, and then they gave her a 24-hour deadline. However, the two were arrested hours ago by the police, the cellphone retrieved, and both have confessed to threatening Julz wh...
Read more