MTN Registers 20.4bn Ordinary Shares with SEC, Begins Listing Process with NSE

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Ferdi Moolman, MTN’s CEO, on Tuesday, May 7, announced the company’s engagement with the Nigerian Stock Exchange (NSE) in order to complete its listing process.

This is cheery news for investors both local and foreign who have for more than two years, anticipated MTN’s listing on the NSE.

The MTN also disclosed that the announced listing process is coming after the registration of 20,354,513,050 ordinary shares of MTN at N0.02 each with the Securities and Exchange Commission (SEC), representing an estimated N407.1 million.

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“I am excited we have achieved another milestone in our listing process and want to thank the SEC and the Corporate Affairs Commission (CAC) for supporting us through the process. We have now begun to engage with the SEC to complete the listing process,” said Moolman.

Efe Ebelo, Head corporate communications of the SEC, equally confirmed the registration.

In an e-mailed statement, Ebelo noted that the “Securities and Exchange Commission 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”.