nigeria stock market news, mtn NSE listing
The Nigeria Stock Exchange in Lagos

The Nigerian Stock Exchange (NSE) has said it has gotten an application from South African telecoms giant MTN for listing.

Concise News understands that sources at the NSE revealed this to Reuters last week.

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It, however, was not confirmed by the regulator until Monday.

In a related development, MTN Nigeria Communications Plc has completed its conversion from a private company to a public company (Plc).

Concise News learned that the conversion to a Plc is a legal requirement and key milestone in the preparatory process for MTN’s listing by introduction on the Nigerian Stock Exchange (NSE).

The company, this news medium understands, plans to list its shares on NSE before the second quarter of 2019.

“Our conversion to a Plc is a major step towards listing by introduction on the Nigerian Stock Exchange in the first half of 2019,” MTN CEO, Ferdi Moolman, said.

It is a reaffirmation of our long-term commitment to expanding investment opportunities for Nigerians, in addition to providing everyday services to them.

“We look forward to continuing our engagement with the SEC and NSE to take forward the listing process.”