MTN Nigeria Completes Conversion from Limited to Plc

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MTN Nigeria has announced that it has completed its conversion from a private company to a public company.

The telecom company, in a statement on Wednesday, said the conversion to a Plc was a legal requirement and key milestone in the preparatory process for its listing by introduction on the Nigerian Stock Exchange, Punch Newspaper has reported.

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.

“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 the  NSE to take forward the listing process,” MTN’s Chief Executive Officer, Ferdi Moolman, said while making this announcement.

 

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