Sunday, Jun 16th 2019 4:31 PM

Market Digest Nigeria


MTN wants electronic listing, reopens talks with SEC

The Securities and Exchange Commission has resumed talks with MTN Nigeria over the telco’s planned listing on the floor of the Nigerian Stock Exchange.

The Director-General, SEC, Mr. Mounir Gwarzo, told journalists in Lagos on Wednesday that the conversation had taken a new turn as the telecoms company was looking at listing on the Exchange electronically.“Our conversation with MTN on its listing is back. But this time, they want to do it through electronic means,” Gwarzo said at the commission’s post-capital market committee meeting briefing.According to the SEC boss, the fresh deliberation has been on for the past two months to ensure a successful listing process.The SEC DG said the Nigerian Stock Exchange had provided needed ideas to MTN on ways to go about the issue in the interest of retail investors.According to him, the application processes will be digitalised in a way that there will be minimal utilisation of paper.In June this year, MTN said it would list its shares on the NSE in 2017.

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