Published On: Thu, Jul 28th, 2016

MTN Nigeria takes steps towards listing



LAGOS, (CAJ News) – MTN Nigeria said it would take immediate steps to ensure the listing of its shares on The Nigerian Stock Exchange (NSE) as “soon as commercially and legally possible.”

This is part of the settlement arrangement with the Federal Government of Nigeria.

The mobile operator 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.

MTN Nigeria is further pleased to announce that it has appointed Stanbic  IBTC Capital Limited (together with its affiliates, The Standard Bank of  South Africa Limited and Standard Advisory London Limited) (collectively  “Stanbic”) and Citigroup Global Markets Limited (“Citi”) as its Joint  Transaction Advisors and Joint Global Coordinators with Stanbic acting as
Lead Issuing House.

A full syndicate including Nigerian receiving agents, Nigerian receiving banks and other advisers would be appointed in due course, as appropriate.

MTN Group nonetheless said the communication issued on Thursday did not  constitute an announcement of an intention to float MTN Nigeria.

MTN Nigeria will make further announcements at appropriate intervals on  progress in this regard.

CAJ News

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