MTN to Sell 30% of its Nigerian Company proposes $500b IPO on NSE

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 perfecting plans to raise about 500 million dollars from the sale of shares in its Nigerian business in the first half of 2018.

Standard Bank Group Ltd. and Citigroup Inc. had been advising MTN on the disposal of as much as 30 per cent of its Nigerian unit on the NSE.

MTN had agreed to list the Nigerian unit as part of June 2016 agreement to pay one billion dollars fine for missing a deadline to disconnect unregistered subscribers amid a security crackdown.

NAN reports that MTN recently appointed a Nigerian investment firm, Chapel Hill Denham, as lead manager for the planned sale of 500 million dollars shares in its Nigerian business during the first half of this year.

It also appointed South Africa’s Rand Merchant Bank, Renaissance Capital and Vetiva Capital as joint issuers to the offer.

The telecoms firm also appointed seven placement agents that would help market the shares. NAN

Comments

NO AUTOMATIC TICKET FOR BUHARI 2019–TINUBU

Asiwaju Bola Tinubu, the National Leader of the APC , says there will be no automatic ticket for President Buhari to run as APC's presidential candidate in 2019 as the party would follow the normal democratic process of conducting a primary to elect its presidential flagbearer. Speaking after a meeting with members of pan-Yoruba group, Afenifere, in Ondo state earlier today, Tinubu said the leadership of the party had not endorsed President Buhari as its sole candidate for the forthcoming presidential election. His statement was against the recent endorsement of President Muhammadu as the sole candidate of the APC for the 2019 election by APC governors. Tinubu's comment comes after Imo state governor, Rochas Okorocha, declared his support for President Buhari to run for a second term in office “No governors can appropriate the power of endorsement to themselves. Buhari is a believer in the process. The Buhari, I know, believes in the rule of law. ...

UNLEASH YOUR MOBILE WITH RONALD KENNETH

I believe that your phone was not just made for you to make/answer calls and send/receive texts You can achieve more... LEARN HOW TO USE YOUR SMARTPHONE for more productive ventures. 1. Graphic design 2. Video editing/Production 3. Voicing 4. Social media/Online management/marketing And a whole lots more... Who should attend? •Business owners •Entrepreneurs •Students •Graduates •Governmental/Non-Governmental agency staff •Civil servants •Marketers e.t.c Classes begin : 23rd April, 2018 Fee : N5,000 Venue : Will be disclosed to registered participants For details on how to be a part of these trainings, send a WhatsApp message to +2348132718024 or follow this link for Registration #DigitourNG #RKtutorials #UYmobile

Nigeria will stop importing and exporting fuel by 2019- Femi Adesina

The Special Adviser to the President of Nigeria on Media and Publicity, Femi Adesina has said that the country will stop importation and exportation of petroleum products by the year 2019. He said that importation and exportation of fuel has a high effect on the lingering fuel crisis because the country does not produce the product locally and the refineries do not work, which makes room for little hitches in the inflow. “When you import fuel and do not produce fuel locally or the refineries do not work once in a while fuel scarcity should be expected, as long as you have those variables not under your total control you can’t rule that out. Mr Adesina made this known while speaking as a guest on Channels Television’s Sunrise Daily, where he explained that the Minister of State For Petroleum Resources, Dr Ibe Kachukwu, has drawn a timetable leading to 2019, noting that part of the plan is that Nigeria will stop importing but exporting. Concerning the unempl...

Russia 2018: Moses drops out due to injury

One of the players hoping to make it to the World Cup with Nigeria has dropped out of the race to Russia. The 'unfortunate' player is Simon Moses who plays his club football in Belgium with Gent and was on the 30-man provisional World Cup list released before now. “Moses Simon will not be traveling with the team on Tuesday because he’s injured,” Nigeria coach Gernot Rohr told reporters in Port Harcourt after the team’s training session. “The nature of his injury is such that he won’t be recovering quickly enough to make the World Cup. “It’s really unfortunate but he remains in my future plans.” The Super Eagles will jet out to London on Tuesday where they will face England on 2 June in another warm-up match. Four more players aside Moses Simon will not be making the London trip with the Eagles who after playing in Wembley will head off to Austria where they have a training camp and play a friendly with the Czech Republic...

Herdsman and 15 Cows killed in fresh Benue attack

The nigerian Police on Tuesday, March 5, 2018, confirmed that unknown gunmen killed a Fulani herdsman and 15 cows at Rafin-Bauna community of Iregwe land in Bass Local Government Area of Plateau. Terna Tyopev, the spokesman of the Police Command in the state said in Jos that the incident happened at about 5:30 p.m on Monday. Tyopev said that two Iregwe youths were on Monday also attacked and severely injured at about 6 pm while returning from a mining site at Gyero community COPY CODE SNIPPET ;At about 17:30hrs we received information that a Fulani man was killed and 15 of his cows slaughtered by gunmen suspected to be Iregwe people at Rafin-Bauna village of Bassa Local Government. “We are yet to ascertain the name and address of the slain victim. “Similarly, two Iregwe youths while returning from a mining site at Gyero were attacked by armed men suspected to be Fulani herdsmen, and as a result sustained a various degree of injuries,” he said. The spokesman said the two injur...

Champions league: Chelsea fan collapses and dies after 3:0 loss to Barcelona

A Chelsea fan, Emmanuel Offin, known popularly as Nana Yaw has died from collapsing, following his club Chelsea's 3-0 loss to Barcelona in the UEFA Champions League second leg round of 16 clash on Wednesday night. Recall that the La Liga league leaders hammered the Blues 3-0 at Nou Camp after drawing the first leg 1-1 at Stamford Bridge to qualify for the last eight of the competition. Yaw, who is a mobile phone dealer in Ghana, was described as ‘a staunch Chelsea supporter’ by his family members. It was gathered that Yaw died on his way to the house after fainting just minutes after the final whistle in Wednesday’s Champions League clash between Chelsea and Barcelona. Punch reports that a Ghanaian journalist (name withheld) who visited the family house of the late Yaw on Thursday, said that the corpse has been deposited at Konfo Anokye Teaching Hospital Morgue for an autopsy. The report also said that Yaw brother, who spoke on a Ghanaian radio station, said t...

NIGERIAN BECOMES BEST GRADUATING MEDICAL STUDENT IN UKRAINE

Oyeleye Abiola, the best graduating medical student at V.N. Karazin Kharkiv National University in Ukraine, was on top of the world, as she delivered the valedictory speech for the day. Abiola who was a student of Osun State University was sponsored to the Ukrainian university by the osun state government of Governor Rauf Aregbesola, to complete her studies there. She scored 95.6 per cent to emerge the best, not just at her university, where she beat 564 other students, but also overall in the whole of Ukraine. The announcement that her score was the best in the entire Ukraine was made at a Pre-Convocation meeting held at V.N. Karazin Kharkiv National University , Kharkov by the President of the university, Prof Vil S. Bakirov. Kharkiv University is the only university in Ukraine that has produced three Nobel Prize laureates. There were 49 other students from Osun state, in her set, sponsored to the school by the Aregbesola administration. They all passed their exa...

MY SURE NEWS

Search This Blog