UPDATE 1-MTN Nigeria plans share sale after stock market listing [Reuters (UK)]
MTN GROUP LTD S/ADR (MTNOY)
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Source: Reuters
UPDATE 1-MTN Nigeria plans share sale after stock market listing - Reuters 3 Min Read (Adds CEO and stock exchange comments, details) By Chijioke Ohuocha ABUJA, May 15 (Reuters) - MTN Nigeria said on Wednesday it planned to offer its shares to new investors through a public offering in the future, in a move to boost local ownership in the telecoms company, after listing the company’s shares in Africa’s biggest economy. MTN Group, the South African telecoms group that owns MTN Nigeria, said the company has received approval from the Nigerian Stock Exchange to list on its premium board by way of introduction on Thursday, giving its existing shareholders access to trade their shares on the bourse from May 16. MTN Nigeria said last week it would list 20.4 billion ordinary shares on the Nigerian bourse. “This is just the beginning, we still intend to pursue a future public offer giving more Nigerians greater access to the MTN opportunity,” Ferdi Moolman, chief executive of MTN Nigeria, sai
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