MTN: If conditions are right, we’ll list on NSE in 2018
Rob Shuter, the chief executive officer of MTN, says the company will list on the Nigerian Stock Exchange in 2018 if the conditions are appropriate.
Shuter made this known on Tuesday while speaking in Lagos after signing a partnership on mobile banking with Ecobank.
Listing on the NSE had been one of the conditions stipulated by the Nigerian Communications Commission (NCC) after MTN was fined for contravening sim registration regulations.
He said the plans are well advanced and that the company would provide the exact terms for the IPO in the “next few months”.
“We are well advanced with the Nigerian listing. If market conditions are appropriate we should conclude it this year,” he told Reuters.
He said the company hopes to reach 60 million customers via mobile banking within the next three years, up from current 23 million in 14 markets where the product has been launched.
Trading on the NSE had closed in the green on Tuesday after the bourse suffered a loss on Monday.
Analysts had attributed the loss to profit-taking by investors following disappointing results by some companies.
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