• Contact Us
  • About Us
Sunday, June 22, 2025
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Companies and Markets

MTN discussed share sale of Nigerian unit with local regulator – SEC

metro by metro
November 28, 2016
in Companies and Markets
0
MTN
0
SHARES
0
VIEWS

South Africa’s telecom group MTN has met with Nigeria’s Securities and Exchange Commission (SEC) to discuss a possible initial public offering and how it wanted to structure the share sale, the head of Nigeria’s SEC told Reuters.

SEC director general, Mounir Gwarzo, said MTN had discussed the possibility of issuing various classes of shares to targeted investor groups. He said the telecom firm was looking at three different classes, which would be new in Nigeria.

Read Also

Dollar Inches Up, Oil Firms As Israel-Iran Confluct Puts Markets On edge, Stokes Supply Disruption Fears

Boeing Shares Drop 5.0% After 787 Crash On Air Indian Flight

SEC Warns Nigerians Against Meme Coin, $PUN Investment 

 Gwarzo said the commission was willing to support the share sale as long as it was within local laws and advised the telecom firm to ensure retail investors were protected.

MTN is the largest mobile phone operator in Nigeria with 57 million subscribers, and the country accounts for about a third of its revenue.

Africa’s biggest mobile phone operator MTN Group has said it aims to listing its Nigerian unit during 2017, subject to market conditions, part of an agreement with the Nigerian government.

In June the telecom firm said it would list its local unit on the Nigerian Stock Exchange after agreeing to pay a reduced fine of $1.7 billion in a settlement with the Nigerian government over unregistered SIM cards.

Gwarzo said the company was yet to submit a formal application for the share sale, he told Reuters.

MTN Nigeria has appointed Stanbic IBTC Capital, Standard Bank of South Africa and Standard Advisory London, and Citigroup Global Markets, as joint transaction advisors and global coordinators, with Stanbic acting as lead issuer.

 

Previous Post

Rotimi Akeredolu is Ondo governor-elect

Next Post

Niger Delta militants claim attack on state-owned NNPC’s oil pipeline

Related Posts

Dollar Inches Up, Oil Firms As Israel-Iran Confluct Puts Markets On edge, Stokes Supply Disruption Fears
Companies and Markets

Dollar Inches Up, Oil Firms As Israel-Iran Confluct Puts Markets On edge, Stokes Supply Disruption Fears

June 16, 2025
Boeing Shares Drop 5.0% After 787 Crash On Air Indian Flight
Companies and Markets

Boeing Shares Drop 5.0% After 787 Crash On Air Indian Flight

June 12, 2025
Expectations High As SEC DG Meets Blockchain Industry Stakeholders
Companies and Markets

SEC Warns Nigerians Against Meme Coin, $PUN Investment 

June 7, 2025
Shares Dither, US Dollar Climbs On Rosy Economic Data
Companies and Markets

Shares Dither, US Dollar Climbs On Rosy Economic Data

May 28, 2025
Next Post
Niger Delta militants

Niger Delta militants claim attack on state-owned NNPC's oil pipeline

APC Plots To Capture Kano, May Replace Shetima With Kwankwaso As Tinubu’s Running Mate For 2027

APC Plots To Capture Kano, May Replace Shetima With Kwankwaso As Tinubu’s Running Mate For 2027

June 22, 2025
Trump Sworn In A Second Time, Says He Was ‘Saved By God’ To Rescue America

JD Vance Says US At War With Iran’s Nuclear Program, Not Iran

June 22, 2025
Niger To Nationalise Uranium Mine Operated By France’s Orano As Relations Sour

Niger To Nationalise Uranium Mine Operated By France’s Orano As Relations Sour

June 22, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version