MTN Nigeria Lists Shares in Nigerian Stock Exchange

MTN Nigeria Lists Shares in Nigerian Stock Exchange Image Credit: MTN

MTN Nigeria announced that it has received approval to list on the Premium Board of The Nigerian Stock Exchange (NSE).

The Operator's shares started trading on Thursday as a way of an introductory listing. The listing by introduction means that the shares of existing MTN Nigeria shareholders will be listed without an additional public sale of shares. From this point, all MTN Nigeria shareholders will be free to trade their shares on the NSE.

MTN Nigeria recently announced its earnings for the first quarter ended March 31, 2019 recording 13.4% growth in service revenue. This was driven by a 12.7% and 32.4% rise in voice and data revenue respectively and the addition of 2.1 million active mobile subscribers to the network. 

Ferdi Moolman, CEO, MTN Nigeria
We appreciate the continued support afforded us by the government, regulators and people of this great nation. In particular, I would like to thank the staff and management of MTN Nigeria who worked tirelessly to make this day possible.

Ralph Mupita, CFO, MTN Group
As MTN Group we are very pleased that we are taking this first and important step towards increasing the local ownership of the company, and building the equity capital markets in Nigeria

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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