Telecoms firm MTN has said it will be listed on the Nigerian Stock Exchange (NSE) in the first half of the year, 2019.
MTN Group’s President and Chief Executive Officer (CEO) Rob Shuter revealed this at the MTN Group’s investor update conference call recently.
According to Shuter, “We have decided though to pursue the listing by means of a listing by introduction. It is phase one.”
He added that “It means that we will list the company in the initial phases without any public offer or sell-down or initial public offering.
“I think this will enable us to get the company listed whilst the market still digests the implications of what has happened over the last few months.”
According to him, “We will in phase two be doing a project to increase the Nigerian participation in MTN Nigeria, targeting more a free float of around 35 percent than the free float we have today which is around 20 percent.
“So, we aim to conclude at least the listing by an introduction in the first half of 2019, pretty much as soon as we can, and then subject to market conditions, appetite and demand we would in phase two do the sell-down.”