Fidelity bank card banner Camano banner

MTN ready for listing on NSE

By Chiazo Ogbolu on 25/04/2019

Views: 1,099

•MTN CEO Ferdi Moolman
•MTN CEO Ferdi Moolman

 MTN Nigeria Communications (MTN) on Wednesday announced that it had completed its conversion from a private company into a public company.

The Chief Executive Officer of MTN, Mr Ferdi Moolman, said that the conversion to a public company was a legal requirement and key milestone in the preparatory process for MTN’s listing on the Nigerian Stock Exchange (NSE).

According to him, the MTN’s intended listing on NSE will create a new telecoms asset class for investors and provide a wider group of Nigerians with a chance to participate in the MTN investment opportunity.

“Our conversion to a public company is a major step towards listing by introduction on the Nigerian Stock Exchange in the first half of 2019.

“It is a re-affirmation of our long-term commitment to expanding investment opportunities for Nigerians, in addition to providing everyday services to them.

“We look forward to continuing our engagement with the SEC and NSE to take forward the listing process,” he said in a statement.

In March, MTN announced its earnings for the 2018 financial year, recording growth above inflation in full service revenue (17.2 per cent) and the addition of nearly six million new subscribers to the network.

The company announced Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of N453.1 billion and expanded EBITDA margins to 43.6% (excluding the CBN resolution amount).

The company added 4.5 million active data customers during the year, delivering data revenue growth of 39.3% and expanding to 18.7 million the number of people that it connects to the possibilities that the internet provides.

“Nigeria is one of the largest markets within MTN’s portfolio and central to its growth strategy”, Moolman said.

“The upcoming listing is a key milestone for the MTN group and is part of its commitment to localisation in the markets in which it operates. (NAN)

Source News Express

Posted 25/04/2019

 

 

CLASSIFIED ADS

 

You may also like...
Nigeria’s TOP 10 songs

Nigeria’s TOP 10 songs

Expensive joke that may put Basketmouth in trouble...

Nollywood diva Doris Ogala splashes millions on new...

TOP 10 Nigerian Songs

Unusual birthday gift for Lagos Big Boy

Ini Edo recovers from heartbreak

Uche Jombo checks out of Nigeria

Tuface Idibia, Banky W, Pretty Okafor, other top...

My pikin want marry oyibo

Nigerian elections: Northerners vote for presidents, Southerners vote...

Tori Olorun! Funke my pikin don carry belle!!...

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

ICT Monitor
Latest News Monarch advocates special funding for ICT education Of telcos, OTTs and cyber-security threat CBN awards financial services licence to MTN subsidiary Ijaw youths begin shutting down of MTN, Glo, Airtel masts in Bayelsa NCC facilitates spectrum infrastructure to boost broadband penetration Vodacom concludes 2019 Annual Inter-School Robotics Training Workshop ATCON, ALTON, others call for Executive Order to stem multiple taxes NCAA shelves destruction of over 7,000 telecom masts National Broadband Conference rescheduled Huawei: US blacklist will harm billions of consumers Switch launches App that eliminates transaction fee on transfer NCC, internet groups synergise to enhance Internet Governance in Africa

 


Most Read Panic in White House after man sets himself on fire (1,763 views) Huawei: US blacklist will harm billions of consumers (1,628 views) ATCON, ALTON, others call for Executive Order to stem multiple taxes (1,595 views) Vodacom concludes 2019 Annual Inter-School Robotics Training Workshop (1,522 views) ATCON holds symposium on post-Nigeria National Broadband Plan (1,520 views) NCAA shelves destruction of over 7,000 telecom masts (1,515 views) Adopt technologies in future elections, ATCON urges FG (1,509 views) Why hackers target financial data of banks — Expert (1,470 views) NCC commends Airtel; says broadband penetration now 33% (1,469 views) Glo signs deal with Nokia Alcatel-Lucent •Bella Disu, Patrick Pouyanné, Aliko Dangote, 147 Global CEOs attend Choose France Summit at Château de Versailles (1,468 views) National Broadband Conference rescheduled (1,441 views) Axiom Tech launches Petro-App (1,400 views)

 

Africa Media Agency and Al Jazeera