MTN prepares for Nigeria listing
JSE-listed MTN Group is targeting a 2017 Nigeria bourse listing for its Nigeria-based operations – a move that will be reliant on suitable market conditions.
The group is set to embark on preparations for the NSE listing as and when it is "commercially and legally" possible, with a management task team established to undertake the process.
This undertaking forms part of a settlement arrangement with the Nigerian government after MTN Nigeria incurred a multibillion-dollar fine for failing to deactivate 5.2-million unregistered cellphone SIM cards by August 2015.
The Nigerian Communications Commission reduced the penalty significantly to N330-billion, or $1.67-billion, to be paid in tranches over a three-year period.
MTN Nigeria appointed Stanbic IBTC Capital and Citigroup Global Markets as its joint transaction advisers and joint global coordinators, with Stanbic acting as the lead issuing house.
The company said it would appoint a full syndicate, including Nigerian receiving agents, Nigerian receiving banks and other advisers, in due course.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation