At the sidelines of the World Economic Forum in Davos, Switzerland, Rob Shuter, the Chief Executive Officer of MTN Group said MTN Nigeria is now in good shape and is ready to list on the Nigerian Stock Exchange in 2019.
The Chief Executive Officer of the Nigerian Stock Exchange Oscar Onyema confirmed the development by noting that the exchange is still in talks with MTN Nigeria to list on the Nigerian Stock Exchange. He said the South African telecoms company intends to fulfil its commitment to Nigeria.
Shuter revealed that “I had a very good meeting with Oscar in the week, so we absolutely committed listing MTN Nigeria on the Nigerian Stock Exchange. We were very far advanced last year, but of course, as you can imagine, some of the difficulties we had that has slowed us down. But we actually intend to complete the listing in 2019, and I think we are in good shape to do that.
An Initial Public Offering (IPO), is the process of offering shares in a private corporation to the public for the first time. Growing companies that need capital will use IPOs to make money, while more established firms may use an IPO to allow the owners to exit some or all their ownership by selling shares to the public.