Thursday, July 31, 2025
26.1 C
Lagos

MTN Nigeria Admitted into NSE Premium Board

The Nigerian Stock Exchange (NSE) has listed by introduction the 20.35 billion (20,354,513,050) ordinary shares of MTN Nigeria Communications Plc at N90 per share, on its Premium Board yesterday.

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.

MTN Nigeria Communications Plc on the Premium Board of The Exchange
L – R Mrs. Erelu Angela Adebayo, Member, National Council Member, The Nigerian Stock Exchange (NSE); Mr. Aigboje Aig-Imoukhuede, CON, Ex-Officio, NSE; Mr Oscar N. Onyema, OON, Chief Executive Officer, NSE; Mr. Ferdi Moolman, Chief Executive Officer, MTN Nigeria Communication Plc; Dr. Pascal Dozie, CON, Chairman, MTN Nigeria Communication Plc; Mr. Bolaji Balogun, Chief Executive Officer, Chapel Hill Denham; Mr. Abubakar Balarabe Mahmoud, SAN, OON, First Vice President, NSE; and Mr. Gbenga Oyebode, MFR, Director, MTN Nigeria Communication Plc during the Listing of MTN Nigeria Communications Plc on the Premium Board of The Exchange yesterday in Lagos.

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 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.”

The 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 finalise an initial public offering and list its shares on The Exchange.

spot_img
spot_img
spot_img

Hot this week

Two NCDMB Leaders Bag Doctorate Degrees at UNIPORT Convocation

Two senior officials of the Nigerian Content Development and...

Sovereign Trust Insurance Reports 109% Insurance Revenue Growth in 2024

Sovereign Trust Insurance Plc recently released its 2024 audited...

NAICOM Issues Guidelines for Insurtech Operations Effective Aug 1

The National Insurance Commission (NAICOM) has officially issued operational...

Leadway Assurance: Official Insurance Partner of Lagos International Trade Fair 2025

L–R: Juliet Okon, Head, Alternative Channel and High Net-worth...

NNPCL: Port Harcourt Refinery Not for Sale

Group CEO, NNPC Limited, Engr. Bashir Bayo Ojulari addressing...

Topics

AIICO Restates Commitment to Annuity Business for Sustainable Growth

L-R: Senior Manager, Business Development, AIICO Insurance Plc, Victor...

Samsung Smartphone Shipments Return to Growth in Q3 2015

According to the latest research from Strategy Analytics, global smartphone shipments grew 10 percent annually to reach 354 million units in the third quarter of 2015. Samsung grew its smartphone shipments six percent and finally returned to positive growth for the first time in over a year. Linda Sui, Director at Strategy Analytics, said:

Heirs Insurance Group Sponsors International Confab for Women in Insurance

Heirs Insurance Group, Nigeria's fastest-growing insurance Group, will headline...

Mutual Benefits Assurance Targets No.1 Market Spot in 2021

Mutual Benefits Assurance Plc celebrated its 21st Anniversary over...

CRC Credit Bureau Unveils Data Submission API

CRC Credit Bureau has launched its Data Submission Application...

CIIN Donates 12, 000 Insurance Textbooks to Secondary Schools Nationwide

The Chartered Insurance Institute of Nigeria (CIIN) has distributed...

NGE Mourns Veteran Journalist, ODAFE OTHIHIWA

The entire members of the Nigerian Guild of Editors...

Fidelity Bank Rating Downgraded by Moody’s over Liquidity Squeeze

The credit rating of Fidelity Bank Plc has been...
spot_img

Related Articles

Popular Categories

spot_imgspot_img