SEC, MTN dialogue on electronic listing

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MTN

The Securities and Exchange Commission (SEC) has opened discussions with MTN to ensure successful electronic listing of the telecoms company on the Nigerian Stock Exchange (NSE).

The Director-General of SEC, Mr Mounir Gwarzo, made the disclosure at the Second Post-Capital Market Committee (CMC) news conference on Wednesday in Lagos.

According to Gwarzo, the parties have been on the matter since the past two months.

He said that the NSE had provided needed ideas to MTN on ways to go about the issue in the interest of retail investors.

“MTN Nigeria is back and we are on course as regards its listing on NSE,” Gwarzo said.

The News Agency of Nigeria (NAN) reports that the telecommunications firm in June said it would list its shares on the NSE this year.

He said the application processes would be digitalised in a way that there would be minimal utilisation of paper, adding that the Nigerian Communications Commission and the NSE, among others, were in support of the plan.

The General Manager of MTN, Mr Nikiwe Tsaagane, made the announcement when he visited the Minister of Science and Technology, Dr Ogbonnaya Onu.

Tsaagane said the listing would be one of the largest transactions in Africa.

“The listing will showcase Nigeria in the global economy if we can achieve it.

“MTN has over 62 million subscribers in Nigeria, which represents a significant percentage of the Nigerian population,” he said. (NAN)

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