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MTN Nigeria Targets $500m from Public Offer


MTN Nigeria is hoping to reap over$500 million from its expected Initial Public Offer (IPO) slated for the first half of the year.

A source in MTN Nigeria confirmed that the public offer would be traded on the floor of the Nigerian Stock Exchange (NSE).

MTN Nigeria has been under intense pressure from the Nigerian government and federal legislators to list its shares on the NSE, especially after the industry regulator, the Nigerian Communications Commission (NCC) imposed a $5.2 billion fine on the telecom operator for failing to deactivate unregistered SIM cards on its network.

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