- November 26, 2020
- Posted by: ASEA
- Category: News

The Nigerian Stock Exchange (The NSE or Exchange) is pleased to announce the listing by introduction of 20.35 billion (20,354,513,050) ordinary shares of MTN Nigeria Communications Plc (“MTN Nigeria”) at N90 per share, on its Premium Board, on Thursday, May 16, 2019.
This listing has added N1.83 trillion to the NSE market capitalization while the share price of the company appreciated by N9.00 at the first trading day to close at N99 per share, having traded 5.5 million shares worth N548.59 million in 15 deals.
MTN Nigeria, a part of the MTN Group, Africa’s leading cellular telecommunications company, is the first telecommunications network provider to be listed on the NSE Premium Board, a listing segment for the elite group of issuers that meet The Exchange’s most stringent corporate governance and listing standards. This Board features Dangote Cement Plc, FBN Holdings Plc, Zenith International Bank Plc, Access Bank Plc, Lafarge Africa Plc, Seplat Petroleum Development Company Plc and United Bank for Africa Plc.
Commenting on the development, National Council President, NSE, Otunba Abimbola Ogunbanjo, said, “We are particularly pleased that MTN Nigeria has joined the prestigious club of companies listed on our Premium Board with this landmark transaction, which will differentiate it as a professionally run telecommunications company with high standards, having met The NSE’s listing criteria. A Premium Board listing is a sign of commitment to strong corporate governance, excellence, professionalism, efficiency in service delivery and providing increased returns to shareholders. It is our expectation that the MTN Nigeria listing, which is the NSE’s 2nd largest, will encourage other telecommunication companies to list their shares on The Exchange, thereby opening the sector up to cheaper, long term capital that will boost innovation and development.”
On his part, the Chief Executive Officer, NSE, Mr. Oscar N. Onyema, OON said, “We are delighted to welcome MTN Nigeria to the Exchange. Today’s listing is a promising development in the country’s telecommunications sector and we encourage other players in the sector to explore the different opportunities in the capital markets for raising long term capital. As a listing platform of choice, today’s listing will add to our bouquet of diverse investment offerings to the public. Having MTN Nigeria listed in our market is a testament of The Exchange’s commitment to building a dynamic and inclusive market and creating channels for sustainable investment. This listing will promote liquidity for MTN Nigeria, enhance its value and increase transparency, as our platform remains one of the best avenues for raising capital and enabling sustainable growth for national development”.
Speaking on the lising, the MTN Nigeria Chairman, Dr. Pascal Dozie, said that “Today is a major milestone in the evolution of MTN in Nigeria and it is fitting that it takes place 18 years to the day since I made the first call on the MTN network on May 16th 2001. Since our initial investment in 2001, we have worked in partnership with Nigerians to deliver the largest network in Nigeria, with over 60 million people now able to access mobile communications services. We employ over 1,600 people and our operations create employment for more than 500,000 Nigerians. Our technology has empowered millions of people and businesses in rural and urban areas. This has driven innovation, expanded market access and enhanced local economic inclusion. I am delighted that we can expand this impact further today, by enabling investors to trade our shares on the NSE.”
The Chief Executive Officer of MTN Nigeria, Ferdi Moolman said: “The listing re-affirms the company’s long-term commitment to the country.” He said 20 percent of MTN Nigeria shares were already held by Nigerians and that the company’s objective is to gradually push that number to 35 percent.
The Nigerian Stock Exchange continues to retool itself in many ways to remain an attractive destination for issuers, building a more responsive market, by deploying cutting edge technology for trading and reducing market infractions through improved market monitoring and surveillance. The Exchange has also developed a market structure that has resulted in upscale securities listing such as SAHCOL Plc, the most recent company under the Bureau of Public Enterprises (BPE) privatisation programme to successfully finalize an initial public offering and list its shares on The Exchange.