Thursday, Oct 29th 2020 4:24 AM

Market Digest Nigeria


MTN still in the process to list on stock exchange


MTN has not yet completed the registration process to list on the stock exchange. This is a part of the process of coming to the market. First, you have to be a public company, and you need to have your shares registered with the Commission.

Ms Mary Uduk the Acting Managing Director of the Securities and Exchange Commission, SEC said this in an interview with Vanguard. “She said we all know that a company cannot list its shares in the market unless it is a public company and as we speak MTN is yet to complete the process”.

However, I do know that MTN had issues with the Nigerian government and they have been trying to sort it out. I think they have sorted out one aspect of that. I don’t think the other part has been sorted out and because they have committed to coming to the market, they have decided to come through Listing by Introduction.

I know that the company is working hard towards that; they have visited the Commission to explain that. They have also assured us that after the Listing by Introduction, once they are able to sort out the other issues with the government, the can now come fully to the market. Right now, there is no formal application from them, but people need to understand that there are many processes for coming to the market. It can be either through Listing by Introduction or Initial Public Offering. When they file their application, we will be able to give you the right information.

Source: Vanguard

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