Wednesday, October 22, 2025
31.1 C
Lagos

MTN Nigeria Lists on Stock Exchange Tomorrow

MTN Nigeria Communications Plc has received approval to list on the Premium Board of The Nigerian Stock Exchange (NSE) on tomorrow (May 16, 2019) by way of an introductory listing.

The listing by introduction means that the shares of existing MTN Nigeria shareholders will be listed without an additional public sale of shares. From this point, all MTN Nigeria shareholders will be free to trade their shares on the NSE.

Commenting on the announcement, Ferdi Moolman, CEO of MTN Nigeria said: “It gives me great pleasure to confirm that the official listing via introduction of MTN’s shares on the NSE will take place on Thursday May 16.”

“We appreciate the continued support afforded us by the government, regulators and people of this great nation. In particular, I would like to thank the staff and management of MTN Nigeria who worked tirelessly to make this day possible. This is just the beginning; we still intend to pursue a future Public Offer giving more Nigerians greater access to the MTN opportunity.”

MTN Group CFO, Ralph Mupita said: “As MTN Group we are very pleased that we are taking this first and important step towards increasing the local ownership of the company, and building the equity capital markets in Nigeria”

MTN Nigeria recently announced its earnings for the first quarter ended March 31, 2019 recording 13.4% growth in service revenue. This was driven by a 12.7% and 32.4% rise in voice and data revenue respectively and the addition of 2.1 million active mobile subscribers to the network.

The company announced Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) ofN150.4 billion and expanded EBITDA margins to 53.3%(44.2%, on an IAS 17 basis)due to growth in revenue and effective cost management.

About MTN Nigeria

MTN Nigeria is one of Africa’s largest providers of communication services, connecting over 60 million people in communities across the country with each other and the world. 

Guided by a vision to lead the delivery of a bold new digital world, MTN Nigeria’s leadership position in coverage, capacity and innovation has remained constant, since its launch in 2001.

MTN Nigeria is part of the MTN Group – a multinational telecommunications group which operates in 21 countries in Africa and the Middle East.

spot_img
spot_img
spot_img

Hot this week

The Trouble with Nigeria’s Healthcare System

By Michael Owhoko, Ph.D The quality of a country’s healthcare...

Sterling Bank Leads Africa’s Green Revolution with Agriculture Summit Africa 2025

Africa’s agricultural rebirth gathers momentum as Agriculture Summit Africa...

Fidelity Bank Celebrates International Day of the Girl Child with Debate Showcase 

L-R: Second runner-up, Chizaram Ekueme of Awesome College; Head,...

LASAA Hosts Legislators, Vows Commitment to Visual Order, Safety

L-R: The Chairman, Committee on Information, Security and Strategy,...

Stanbic IBTC FUZE Talent Show 2025 unveils Amy Aghomi as New Fashion Judge

The Stanbic IBTC FUZE Talent Show 2025, themed “The...

Topics

Don Seeks Establishment of Home Economics, Nutrition Extension Agents

A leading nutrition expert has called for the establishment...

BudgIT Alarmed at Zero Allocations for People Living with Disabilities Centres

  BudgIT, a leading civic transparency group, has called on...

8 Firms Honoured for Excellence in Retirement Innovation

The United Nations, Singapore's Central Provident Fund (CPF), The...

Gabon Selects Gemalto for Visa Management System

Gemalto, the world leader in digital security, has been...

GE Reinforces Commitment to Energy Access in West Africa

GE to provide energy solutions to help foster economic...

NITDA Threatens MDAs over .GOV.NG Compliance

The management of National Information Technology Development Agency (NITDA)...

NIMC DG: Birth, NIN Registration will Shape Nigeria’s Digital Identity

The DG/CEO of NIMC, Engr Abisoye Coker-Odusote, has stressed...
spot_img

Related Articles

Popular Categories

spot_imgspot_img