The Securities and Exchange Commission, SEC, has confirmed that the application brought by MTN Nigeria to register their existing securities has been approved.
According to Acting Director General of SEC, Ms. Mary Uduk, “MTN sought to come to the market by way of an introduction and they wrote to the SEC last week requesting for approval to register its existing shares. That approval has now been granted”.
Recall that the SEC received the application from the company last week to register their existing securities.
This is a further indication of the determination by the the SEC to work with companies that are interested in the capital market. We believe that this will also encourage other service providers to come to the market.