At the long awaited last Nigerians can buy shares and become part of the ownership of MTN. Telecommunication giants MTN has finally announced that its shares will start selling the Nigeria stock exchange market in 2017. MTN selling shares in Nigeria stock market; Yes mark the date, 2017 it is.

The company made the announcement today and stated that the move is part of a settlement agreement it had with the Nigerian Government. This listing will finally see Nigerians acquiring shares what is clearly the biggest telecommunication company in the country.

 

MTN Selling Shares In Nigeria Stock Market–See Details Here

MTN Nigeria 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. The fine for failing to disconnect unregistered subscribers was reduced from N1.4 trillion to N330 billion after a series of negotiations.

The announcement however maintained that MTN selling shares in the Nigerian Stock exchange market is subject to favorable market conditions. In a statement signed by MTN Nigeria’s Public Relations and Protocol Manager, Mr. Funso Aina. He said:

“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 statement from its group corporate affairs said.”

The company said it had 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 Joint Transaction Advisors and Joint Global Coordinators, with Stanbic acting as Lead Issuing House.

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

Nigerians, it won’t be bad if the company troubling you with those annoying messages finally becomes yours, will it.

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