MTN Lists Shares on Nigerian Stock Exchange

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Giant telecommunications company, MTN Nigeria has listed 20 billion ordinary shares at N90 per unit on the Premium Board of the Nigerian Stock Exchange (NSE). The company was officially listed on Thursday at the Stock Exchange House in Lagos.

It was gathered that the telecommunication company, was led by its Nigeria Brach Chairman, Dr. Paschal Dozie, in the company of MTN Chief Executive Officer (CEO), Mr. Ferdi Moolman.

The price values the telecoms company at N1.84 trillion.

MTN Nigeria decided to list its local company in the country on the NSE in 2016 after agreeing to pay a $1.7 billion fine to settle a sim card dispute with the Federal Government.

Nigeria accounts for a third of MTN’s annual core profit while indigenous investors own 19.4 percent of the company.