MTN Nigeria Communication Plc successfully floated its shares on the Nigeria stock exchange market on Thursday 15th May, 2019. The shares price is placed at a unit price of N90 per share, making it the second largest listed company in Nigeria, some hundred billions short of Dangote Cement. With this, MTN made history as the first telecommunication major in Nigeria to be listed on the country’s stock exchange.
National Council President NSE, Otunba Abimbola Ogunbanjo, said: “We are particularly pleased that MTN Nigeria has joined the prestigious club of companies listed on our Premium Board with this landmark transaction, which will differentiate it as a professionally run telecommunications company with high standards, having met The NSE’s listing criteria.
“A Premium Board listing is a sign of commitment to strong corporate governance, excellence, professionalism, efficiency in service delivery and providing increased returns to shareholders.
“It is our expectation that the MTN Nigeria listing, which is the NSE’s 2nd largest, will encourage other telecommunication companies to list their shares on The Exchange, thereby opening the sector up to cheaper, long term capital that will boost innovation and development.”
Chief Executive Officer NSE, Mr. 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.
Pascal Dozie, MTN Nigeria chairman, who spoke at the historic event, said: “Today is a major milestone in the evolution of MTN in Nigeria and it is fitting that it takes place 18 years to the day since I made the first call on the MTN network on May 16, 2001″.
“Since our initial investment in 2001, we have worked in partnership with Nigerians to deliver the largest network in Nigeria, with over 60 million people now able to access mobile communications services.
“We employ over 1,600 people and our operations create employment for more than 500,000 Nigerians. Our technology has empowered millions of people and businesses in rural and urban areas.”