At long last, telecoms giant MTN says it will be listed on the floor of the Nigerian Stock Exchange (NSE) by June this year.
The Chief Executive Officer of MTN Nigeria, Mr Ferdi Moolman, said this in Lagos during the unveiling of its annual report for the year 2018.
For years there has been an agitation for MTN to open up by allowing Nigerians by shares in the company via Initial Public Offer (IPO).
In times past, many accused the company of “using the large Nigerian market” to expand its operations to other countries and taking away the maximum profits; without Nigerians having a direct benefits.
“MTN plans to list by introduction on the Nigerian Stock Exchange during the first half of 2019, and is looking to simplify the capital structure ahead of this listing,” Moolman said.
“The company’s listing on the exchange will create a new telecoms asset class for investors and provide an opportunity for a wider group of Nigerians to participate in our investment story,’’ he added.
He said that the company understood how access to opportunities enabled by the internet could open up new industries even in the remotest areas.
The chief executive officer said that there was the need to continue to focus on delivering social innovations such as mobile electricity and financial services for all.
He said that the company would leverage on its technology to enable high-impact mobile solutions in education, health and agriculture in communities.