MTN Nigeria recently converted from a private company to a public company. The telecommunications giant is in the process of listing at the Nigeria Stock Exchange. The entry into the market will be by introduction. The tech firm will be the first telecommunication company to trade at the NSE thereby giving investors a chance to invest in the telecoms sector.
MTN Nigeria CEO Ferdi Moolman said, “Our conversion to a Plc is a major step towards listing by introduction on the Nigeria 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 SEC and NSE to take forward the listing process.”
Nigeria is one of MTN’s top markets. In 2018, the Telco added 6 million new clients to its network. Its active data users in the country grew by 32 percent from 14.2 million to 18.7 million customers. As a result, revenue from data subscribers jumped up 39 percent. Its pretax earnings in 2018 amounted to N453.1 billion (KSH127 billion).