Tuesday, July 1, 2025
24.4 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

UN, Sterling One Foundation Lead Coalition Ahead of ASIS 2025

L–R: Mohamed Malick Fall, Assistant Secretary-General and United Nations...

UN, Sterling One Foundation Lead Coalition Ahead of ASIS 2025

L–R: Mohamed Malick Fall, Assistant Secretary-General and United Nations...

Veritas Kapital Assurance at the 2025 CIIN Insurance Week

A group photograph of the staff of Veritas Kapital...

KBL Insurance at the 2025 CIIN Insurance Week

A group photograph of KBL Insurance Limited staff and...

Sovereign Trust Insurance at the 2025 CIIN Insurance Week

Members of staff of Sovereign Trust Insurance Plc flanked...

Topics

The Leading Insurance Companies in Nigeria

  Niger Insurance Plc Our Mission Statement To be a CUSTOMER ORIENTED...

Business Journal Named ‘Best Financial Newspaper in Nigeria’

Business Journal has won international recognition as ‘Best Financial Newspaper in Nigeria’ in the 2015 International Finance Awards by Wealth & Finance International Magazine of the United Kingdom (UK). In the award letter to Business Journal, Jonathan Hicks, the Editor of Wealth & Finance International said: “Business Journal: You Are a Winner in the 2015 Finance Awards!

AIICO Bags Insurance Company of the Decade at Marketing Edge Awards 

Left - Right: Segun Olalandu, Head, Digital Marketing &...

Emirates Fetes Young Nigerians on Children’s Day

Emirates, the world’s fastest growing airline, has demonstrated its...

Kyari Urges Military to Sustain Onslaught Against Crude Oil Theft

GCEO, NNPC Limited, Mr. Mele Kyari (9th from right) and...

Interswitch, Visa Partner on Digital Payment across Africa

Interswitch Limited, a leading technology-driven company focused on the...

Another Look at Remittance

By Elvis Eromosele Migrants leave home to escape. Across the...

Economist Unveils 6-Point Economic Plan for Buhari Administration

Professor Akpan Ekpo, Director-General, West African Institute For Financial And Economic Management (WAIFEM) has drawn a 6-Point Economic Plan for the in-coming Buhari Administration sustainable economic renaissance on the back of regime support for the private sector as growth engine of the economy. The 6-Point Plan is anchored on Reduction of Unemployment, Infrastructure, Human Capital, Diversification, Utilisation of Foreign Reserves and Poverty Reduction. Ekpo said for the country to make progress, the regime must continue to support the private sector as the engine of growth, given that the sector exists in an economic system managed by government.x
spot_img

Related Articles

Popular Categories

spot_imgspot_img