The Securities and Exchange Commission (SEC) on Wednesday confirmed that MTN Group had finally commenced discussions with the commission on its proposed 500 million dollars Initial Public Offering (IPO). A senior management staff of SEC who pleaded anonymity told the News Agency of Nigeria (NAN) in Lagos that MTN had commenced discussion with the commission on the IPO. The source told NAN that although talks were ongoing, the company was yet to formally file its application for the IPO. He said the commission was committed to investors’ protection, and that their interest would be protected in the ongoing discussion. The source said SEC would remain committed to the development of the nation’s capital market and listing of more multinationals. Another source at the Nigerian Stock Exchange (NSE), who declined to be mentioned, also told NAN that the NSE had not yet received an official filing from the company. There were reports recently that MTN Group Ltd. was perfe...
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