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    MTN   ZAE000042164

MTN GROUP LIMITED

(MTN)
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MTN Plans to Sell 14% Stake in Nigerian Unit Are ‘Well Advanced’

06/28/2021 | 09:13am EDT

MTN Group Limited (JSE:MTN) has revealed that plans to sell a 14% stake in its Nigerian unit to local investors are ‘well advanced’. The South African firm, which holds 78.8% of MTN Nigiera, added that the process would commence as soon as market conditions are conducive. TeleGeography’s GlobalComms Database states that in June 2016 MTN Nigeria committed to listing a portion of its shares on the Nigeria Stock Exchange (NSE) as part of a settlement arrangement with the Nigerian government regarding a NGN 330 billion (USD 800 million) fine. The listing was initially expected to take place during 2017 but was delayed due to regulatory and macroeconomic issues; it eventually took place on 16 May 2019 via a ‘listing by introduction’. Eventually, MTN intends to follow this with a public offer once market conditions are favourable. Over time, MTN Group anticipates that local ownership will increase from around 20% to 35%, although in March 2020 it hinted that its sale of a roughly 15% stake may have to be carried out in phases due to the COVID-19 pandemic and a slump in oil prices.


© S&P Capital IQ 2021
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Analyst Recommendations on MTN GROUP LIMITED
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Financials
Sales 2021 177 B 11 971 M 11 971 M
Net income 2021 17 054 M 1 155 M 1 155 M
Net Debt 2021 77 807 M 5 271 M 5 271 M
P/E ratio 2021 13,6x
Yield 2021 2,79%
Capitalization 224 B 15 158 M 15 156 M
EV / Sales 2021 1,71x
EV / Sales 2022 1,55x
Nbr of Employees -
Free-Float 68,8%
Chart MTN GROUP LIMITED
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Technical analysis trends MTN GROUP LIMITED
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 12
Last Close Price 124,11 ZAR
Average target price 127,55 ZAR
Spread / Average Target 2,77%
EPS Revisions
Managers and Directors
Ralph Tendai Mupita Group President, CEO & Executive Director
L. Tsholofelo Molefe Group Chief Financial Officer & Director
Mcebisi Hubert Jonas Chairman
Charles Molapisi Chief Information & Technology Officer
Jens Schulte-Bockum Group Chief Operating Officer
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