MTN Nigeria, has said it
will list its shares on the Nigerian Stock Exchange in 2017.
The company said in a
statement on Thursday that the listing was part of a settlement arrangement
with the Federal Government.
“The 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,” it said in the statement.
“At present, MTN Nigeria
is targeting that the listing takes place during 2017, subject to suitable
market conditions.”
The statement was signed
by MTN Nigeria’s Public Relations and Protocol Manager, Mr. Funso Aina.
The telecoms firm 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.
“The proposed listing
would be subject to suitable market circumstances and conditions and the
appropriate approvals from relevant regulators and other stakeholders.”
Source: punching.com
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