The Nigerian Stock Exchange (NSE) has hinted that Telecommunication giant, MTN Nigeria Plc, billed to list its shares on Thursday, May 16, will join the elite group of issuers on its Premium Board.
The NSE disclosed that plans are underway for its council members and its management to welcome the Board and Management of MTN Nigeria Plc to the Exchange for the official listing of the company on the NSE Premium Board.
The board, fondly referred to as Nigeria’s elite issuers, consists of industry leaders in their respective sectors. It offers issuers the benefits of greater visibility and opportunities to raise capital.
Also Read: Court Sacks Lawmaker for Defecting to APC
The MTN team is however said to be honoured with the prestigious closing gong ceremony after which they will deliver facts behind the listing presentation to capital market stakeholders on Thursday, May 16, 2019.
Ferdi Moolman, MTN’s CEO, had last week disclosed that the company was listing about 20.4 billion ordinary shares at N0.02 each in an anticipated capital raise of no less than N407.1 million.
The NSE premium board currently boasts of seven companies which are Dangote Cement, First Bank, Zenith Bank, Seplat, Lafarge, Access Bank Plc, and United Bank for Africa Plc.
These companies must adhere to international best practices on corporate governance and meet the Exchange’s highest standards of capitalization and liquidity.