Themuch-awaited listing of telecommunication giants, MTN Nigeria Communications Plc. took a massive leap as the Nigerian Stock Exchange (NSE) yesterday, admitted the telecom company on its premium board platform via listing by introduction.
Details of the listing showed that the 20.35 billion ordinary shares were introduced at N90 per share on the Premium Board even as Thursday’s trading session closed in the green with the market capitalisation settled at N12.525 trillion due to N1.8 trillion added by MTN’s shares. MTN Nigeria, a part of the MTN Group, Africa’s leading cellular telecommunications company, is the first telecommunications network provider to be listed on the NSE Premium Board, a listing segment for the elite group of issuers that meet the Exchange’s most stringent corporate governance and listing standards.
Commending listing, Chief Executive Officer of NSE, Oscar Onyema, said, “We are delighted to welcome MTN Nigeria to the Exchange. Today’s listing is a promising development in the country’s telecommunications sector and we encourage other players in the sector to explore the different opportunities in the capital markets for raising long term capital.
“As a listing platform of choice, today’s listing will add to our bouquet of diverse investment offerings to the public. Having MTN Nigeria listed in our market is a testament of the Exchange’s commitment to building a dynamic and inclusive market and creating channels for sustainable investment.
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