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The Securities and Exchange Commission (SEC), on Wednesday confirmed that it indeed received and approved an application to register shares of telecoms giant- MTN Nigeria last week. A statement by the commission quoted Acting Director General of the SEC, Ms. Mary Uduk as saying that “MTN sought to come to the market by way of an introduction and they wrote to the SEC last week requesting for approval to register its existing shares. That approval has now been granted”. MTN had on Tuesday announced the registration of 20.4bn ordinary shares by the SEC. The move by MTN, according to the SEC, “is a further indication of the determination… to work with companies that are interested in the capital market. “We believe that this will also encourage other service providers to come to the market,” the commission added. https://investdata.com.ng/2019/05/mtn-to-list-shares-by-introduction-says-sec/

MTN Nigeria Communications Plc (MTN) says it has successfully completed the registration of 20,354,513,050 ordinary shares of N0.02 each with the Securities and Exchange Commission (SEC). Ferdie Moolman (pictured), MTN’s chief executive officer, made this known in a statement released in Lagos on Tuesday. Moolman said the completion of this process sets in motion the next steps in MTN’s intended listing by introduction on the Nigerian Stock Exchange (NSE). “I am excited we have achieved another milestone in our listing process and want to thank the SEC and the Corporate Affairs Commission (CAC) for supporting us through the process. “We have now begun to engage with the Nigerian Stock Exchange (NSE) to complete the listing process,’’ he said. Moolman said that MTN was guided by a vision to lead the delivery of a bold new digital world, saying that MTN Nigeria’s leadership position in coverage, capacity and innovation had remained constant, since its launch in 2001. The ...

MTN Group Ltd. asked the Nigerian Securities & Exchange Commission for permission to proceed with a listing of its shares, according to two people familiar with the matter. The company, Africa’s biggest mobile-phone company by subscribers, applied to the Abuja-based SEC for a registration of shares and a listing on the Nigerian Stock Exchange, said the people who asked not to be identified because they’re not authorized to speak publicly about the matter. MTN appointed former Nigeria central bank Governor Lamido Sanusi to its board on Friday as part of the preparation for the listing and after the conversion of its Nigerian unit into a public company last week. The listing in Africa’s most populous nation is a condition of the settlement of a $1 billion regulatory fine three years ago. https://www.bloomberg.com/news/articles/2019-05-03/mtn-is-said-to-apply-to-nigerian-regulator-for-share-listing

Contrary to the barrage of media reports, Nigeria’s capital market apex regulator- the Securities & Exchange Commission (SEC), on Sunday denied receipt of any application regarding an Initial Public Offering (IPO) from either telecommunication giant MTN Nigeria Limited, any of its advisers or representatives. The mass media has been awash with news of plans by the MTN Group to list its Nigerian unit worth $5.23bn later in the year in the debut IPO on the Nigeria Stock Exchange. The company is said to be preparing to file application to the SEC to launch the offer after getting approvals from existing investors. The fresh funds, at least $400m, being raised, according to the pre-IPO presentation seen by Reuters, will help reduce the company’s debt, just as proceeds would go into redemption of preference shares issued to existing investors who bought the shares 11-years ago and also cut its dollar exposure. MTN Nigeria has around 402 million shares in issue, the same amou...

Telecommunications giant- MTN plans to list its Nigerian unit worth $5.23bn by July in a debut Initial Public Offering (IPO) on the Nigerian Stock Exchange (NSE), just as it will raise fresh funds to reduce debt, according to pre-IPO presentation seen by Reuters. The listing of up to 20bn shares of MTN through a split of an existing unit into 50 units, is believed to be part of an agreement reached following the sanctions by the industry regulator- the Nigerian Communications Commission (NCC). MTN Nigeria, which is 70% owned by South African parent company, aims to raise at least $400 million from the IPO to pay preference shareholders and is preparing to file application to the Securities and Exchange Commission (SEC) to launch the offer after getting approvals from existing investors last week, sources with knowledge of the matter said. Ahead of this, a roadshow is planned for between May and June this year, while listing on Nigeria’s bourse is slated for between June and...