Wednesday, May 21, 2025
22.4 C
Lagos

MTN Nigeria to Go Public in 2016

MTN Nigeria will become a Public Liability Company (PLC) in 2016. Accordingly, MTN will list its shares on the floor of the Nigerian Stock Exchange (NSE) by way of public offer for purchase by interested members of the investing public.

A senior insider in MTN Nigeria confided in Business Journal: “Well, l can tell you that the management has concluded plans to list the shares of MTN on the Nigerian Stock Exchange (NSE) in 2016, mainly due to intense pressure from various quarters in the past three years.

Unless there is a change of policy in the near future, the 2016 date remains sacrosanct for now.” The insider said part of the game-plan for 2016 was the selling off of MTN telecom masts and outsourcing of various operations of the company since 2013.

In the 2014 business year, MTN recorded revenue of N824.8 billion compared to N793.6 billion in 2013. Analysts in the industry also believe that investors in MTN were complaining of static growth, especially in terms of income generation and unending demand for right-ofway payment by various state governments and government agencies.

Alluding to the static growth 196 302.9 221.4 $42.56 $47.56 Monday Aug. 31 – Sept. 6, 2015 Oando N10.19 Dansugar N7.26 Nestle N-89.7 UACN
N-3.60 of MTN Nigeria, the MTN Group said: “MTN Nigeria experienced a difficult six months (in 2015) impacted largely by unfavourable macro-economic conditions and operational execution challenges resulting in declining revenue and higher costs.”

spot_img
spot_img
spot_img

Hot this week

FG: Economic Reforms Driving Growth, Investor Confidence

The Minister of Budget and Economic Planning, Senator Abubakar...

Linkage Assurance Earns B+ Rating from AM Best

Linkage Assurance Plc, a prominent non-life insurance company in...

CBN Reassures Public on Banking Sector Stability

The attention of the Central Bank of Nigeria (CBN)...

Insurance Industry Unveils 3-Month Third Party Media Campaign

The insurance industry in Nigeria has unveiled a 3-month...

Nigeria Outlook: Inflation to Increase in the Near Term

Cordros Securities has predicted increase in the inflation rate...

Topics

Africa CEO Forum Taps into Private Sector Growth Plan

The 4th Africa CEO Forum – meeting place for...

Linkage Assurance PAT up 431% to N2.9bn in 2017

Dr. Pius Apere MD/CEO Linkage Assurance Plc Linkage Assurance Plc has recorded...

Remittances to Sub-Saharan Africa Declines to $37bn over COVID-19

Remittances to Sub-Saharan Africa registered a small decline of 0.5 percent...

$300m Fund Created to Support Africa’s Energy Sector

Standard Bank of South Africa (SBSA), the Overseas Private...

IDC Hosts Annual IT Forum in Lagos, Dakar

International Data Corporation (IDC) last week launched the 2016...

Emerald Zone to Empower Preteens, Teenagers with Coding Skills in August

In line with its annual social project, Emerald Zone,...
spot_img

Related Articles

Popular Categories

spot_imgspot_img