The management of the Nigerian Stock Exchange (NSE) says it will list 20.35bn ordinary shares of MTN Nigeria Plc on the Premium Board, Thursday, May 16, 2019.
According to media reports, the shares will be listed at N80 or N90 each, boosting the NSE’s market capitalization by as much as N1.831tr, which makes it the second biggest company by market size.
A media invite by the NSE noted that MTN Nigeria management will explain facts behind the listing to capital market stakeholders, after performing the ceremonial closing gong
Reuters had earlier on Tuesday quoted two sources saying MTN aimed to list its Nigerian business on Thursday, after holding a meeting with analysts about its plans on Monday.
Also on Tuesday, Bloomberg had reported plans by MTN to raise about N200bn (about $555 million) this year from various sources, including bank loans and bonds to finance capital expenditure that will enhance the reach and efficiency of its network in Nigeria, quoting Chief Financial Officer Adekunle Awobodu.