The listing will automatically increase the aggregate market value of all quoted equities at the NSE from the opening value of N10.627 trillion to N12.463 trillion.
Basically, existing shareholders will be the ones driving trading on MTN Nigeria in the short term. The shareholding structure at the time of listing will be 78.8 per cent by the MTN Group and 19.4 per cent by Nigerians. “The listing price has been set at N90 per share. The listing price of N90 is just to establish an opening price for MTN shares. It is expected that the price would likely rise at least in the short term because of the first quarter financial results that have been published; as well as the information on a dividend payout ratio of at least 80 per cent of its net income in the medium term,” Capital Bancorp stated.
MTN Nigeria had in 2016 appointed an advisory team and set out a roadmap towards listing on the Nigerian Stock Exchange in 2017. The telco however missed the 2017 target and has since been struggling with the listing.
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