MTN Nigeria listing set for Thursday, valuing it over R70bn | Fin24
 
  • Brexit Blues

    British Prime Minister Theresa May's premiership is hanging by a thread.

  • Downsizing

    President Ramaphosa is set to merge two economic ministries, according to sources.

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.

Loading...

MTN Nigeria listing set for Thursday, valuing it over R70bn

May 15 2019 09:55
Renee Bonorchis, Bloomberg

MTN Group  said its long-awaited Nigerian listing will go ahead on Thursday with the price set at 90 naira (about R3.55) per share.

The price was determined by referencing private share sale transactions by MTN Nigeria shareholders over the past 180 business days, according to the Johannesburg-based company.

Africa’s biggest mobile-phone company registered 20.35 billion ordinary shares with Nigeria’s Securities and Exchange Commission last week.

It plans to list around 20% of those on the bourse. The listing price gives the unit a market value of as much as 1.8 trillion naira, making it the second-biggest public firm in Africa’s main oil producer after Dangote Cement Plc. It will be the largest when measured by revenue.

mtn  |  nigeria  |  business  |  capital  |  mobile operators  |  investment
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Trump’s administration has threatened to choke Huawei, hitting some of its biggest component makers. What are you most concerned about??

Previous results · Suggest a vote

Loading...