MTN TARGETS THURSDAY FOR LONG-PLANNED NIGERIA LISTING

Source: Reuters

MTN’s Nigerian business is aiming to list on the Nigerian Stock Exchange on Thursday, a spokesman for the South African company said.

MTN decided to list its local unit in Nigeria in 2016 after agreeing to pay a $1.7 billion fine to settle a SIM card dispute with the government. The company has previously said it planned to list in the first half of 2019.

“We are aiming to list but we can’t give you a hard date,” the spokesman said, adding that Thursday was MTN’s preferred date, though Wednesday and Friday this week and Wednesday and Thursday next week are also options.

Two sources had earlier told Reuters that MTN aimed to list its Nigerian business on Thursday, after holding a meeting with analysts about its plans on Monday.

Last week, Nigeria’s securities regulator approved MTN’s application to list Nigerian unit.

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