MTN Nigeria Limited has announced that it has completed its conversion from a private company to a public company.
The conversion to a Plc was a legal requirement and key milestone in the preparatory process for MTN’s listing by introduction on the Nigerian Stock Exchange. The telecoms company said this in a statement on Wednesday
MTN said the proposed listing on the NSE would create a new telecoms asset class for investors and provide a wider group of Nigerians with a chance to participate in the MTN investment opportunity.
Speaking on the announcement, the MTN Chief Executive Officer, Ferdi Moolman, commented, “Our conversion to a Plc is a major step towards listing by introduction on the Nigerian Stock Exchange in the first half of 2019.
“It is a reaffirmation of our long-term commitment to expanding investment opportunities for Nigerians, in addition to providing everyday services to them.
“We look forward to continuing our engagement with the Securities and Exchange Commission and NSE to take forward the listing process.”
is part of its commitment to localisation in the markets in which it operates.