Thursday, July 3, 2025
23.6 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

Stanbic IBTC Bank Nigeria PMI: Output Growth Slows but Business Confidence Rises Sharply

The Nigerian private sector remained in growth territory as...

NIA: Insurance Week Designed to Boost Industry Awareness in Nigeria

Mr. Kunle Ahmed Chairman Nigerian Insurers Association (NIA) The Nigerian Insurers Association...

NAICOM Chief: The Future of Nigeria Depends on How We Manage Risks

Keynote Address by Mr. Olusegun Ayo Omosehin, Commissioner for...

SEC Canvasses Advanced Financial Inclusion by 2030

The Securities and Exchange Commission (SEC) has stressed the...

NCDMB to Champion “Nigeria First” Policy in Oil and Gas Sector

The Nigerian Content Development and Monitoring Board (NCDMB) has...

Topics

NEXIM, CBN Unveil N550bn Non-Oil Export Growth Schemes

The Nigerian Export-Import Bank and Central Bank of...

LASUMBA Heritage Holds 2019 Convention Nov 30

LASUMBA Heritage, an Association of Alumni and Managers of...

Fidelity Bank Set to Host 2 Days of Family Entertainment

In the spirit of the Yuletide, leading financial institution,...

Royal Exchange General Targets 1m Farmers in Agric Investment

L-R: Mr. Wale Banmore, Director, Royal Exchange General Insurance...

Sterling Bank: N133bn Earning Caps Impressive 2017 Performance

Sterling Bank Plc released its FY-2017 results, which...

Promasidor Nigeria Named Best Corporate Social Responsibility Company 2014

In recognition of the enormous contributions of Promasidor Nigeria to the Isolo community of Lagos, Nigeria, the Osolo of Isolo Kingdom, the Council of Chiefs and the entire Isolo Kingdom have named Promasidor- The Best Corporate Social Responsibility Performing Company of The Year 2014.

Multichoice Fined R10, 000 Over Nude Scene

Multichoice has been fined R10, 000 over an inappropriate...
spot_img

Related Articles

Popular Categories

spot_imgspot_img