The Nigerian Stock Exchange (NSE) yesterday said the shares of MTN Nigeria Plc will be listed on the Premium Board of exchange today, Thursday.
The NSE, which disclosed this on its website, however, did not give details about the number and price at which MTN shares would be listed. It said the company would address capital market stakeholders with a ‘Facts behind the listing’ presentation.
The company recently registered 20.35 billion ordinary shares with the Securities and Exchange Commission (SEC) with about 20 per cent expected to be listed on the Nigerian bourse. SEC had last week confirmed the receipt of MTN’s application to list on the exchange by introduction.
“The SEC can confirm that we are in receipt of an application from MTN requesting for registration of their existing securities. They have applied for listing by introduction which will enable the company to be listed and allow shareholders sell their shares on the floor of the exchange. Their application is presently receiving attention,” it had said.
Ahead of its planned listing, MTN also appointed some new directors, including former Governor of Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi.
The listing of the MTN is one of the factors that is expected to drive the stock market this year.
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