MTN Nigeria successfully registers ₦20.35 Billion Shares

MTN Nigeria Communications Plc on Tuesday announced that it had successfully completed the registration of 20,354,513,050 ordinary shares of 2 kobo each with the Securities and Exchange Commission.

The company said in a statement that the completion of the registration process set in motion the next steps in its intended listing by introduction on the Nigerian Stock Exchange.

The Chief Executive Officer, MTN Nigeria Ferdi Moolman is excited that they have achieved another milestone in listing process.

SEC and the NSE had confirmed on Monday that they received an application from MTN requesting the registration of its existing securities.

The President/Chief Executive Officer, MTN Group, Rob Shuter, said the move would enable the company to get listed easily, adding that findings showed that the free float in the Nigerian market would be about 35%.