Listing: MTN registers 20bn shares with SEC

By Chioma Obinagwam

South African communication giant, MTN Nigeria Communications Plc (MTN) says it has successfully completed the registration of 20,354,513,050 ordinary shares of N0.02 each with the Securities and Exchange Commission (SEC).

Ferdie Moolman, MTN’s Chief Executive Officer (MTN), made this known in a statement released in Lagos on Tuesday.

Moolman said the completion of this process sets in motion the next steps in MTN’s intended listing by introduction on the Nigerian Stock Exchange (NSE).

“I am excited we have achieved another milestone in our listing process and want to thank the SEC and the Corporate Affairs Commission (CAC) for supporting us through the process.

“We have now begun to engage with the Nigerian Stock Exchange (NSE) to complete the listing process,’’ he said.

Moolman said that MTN was guided by a vision to lead the delivery of a bold new digital world, saying that MTN Nigeria’s leadership position in coverage, capacity and innovation had remained constant, since its launch in 2001.

The company recently changed its status from a private company to a public limited company in preparation for its listing on the Nigerian Stock Exchange.

The company says it hopes to complete its listing by introduction on the exchange by July.

National Daily gathered that listing on the NSE was one of the conditions reached in the resolution of a N330 billion fine placed on the company by the Nigerian Communications Commission (NCC) for its inability to disconnect improperly registered SIM cards.