The Nigerian stock exchange has confirmed receipt of South African telecommunication firm, MTN’s listing application. The Securities and Exchange Commission (SEC) confirmed the registration.
The Securities Exchange Commission further mentioned that MTN had recently changed its status from a private company to a public limited liability company, which paves the way for listing on the Exchange.
A research fellow at the Securities and Exchange Commission, Professor Uche Uwaleke, says that the introduction of MTN will bring two trillion naira to the market and boost the Nigeria Stock Exchange’s market capitalisation.
News Central recalls that the listing of MTN in Nigeria was part of the settle agreement reached to resolve the 300 billion naira fine issued against the telecommunication firm by the Nigeria Communication Commission for not disconnecting subscribers that were not properly registered.