MTN Nigeria on Thursday said that as part of a settlement arrangement with the Federal Government following its fine, it had taken steps to ensure the listing of its shares on the Nigerian Stock Exchange next year, subject to suitable market conditions.
A statement by the telecommunications company’ Public Relations and Protocol Manager, Mr. Funso Aina, read in part, “The 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.”
He said that the telecoms firm had appointed 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 as joint transaction advisors and joint global coordinators, with Stanbic acting as the lead issuing house.
Aina added, “A full syndicate, including Nigerian receiving agents, Nigerian receiving banks and other advisers will be appointed in due course as appropriate.
“The proposed listing will be subject to suitable market circumstances and conditions, and the appropriate approvals from relevant regulators and other stakeholders.”
Source:© Copyright The Punch Online