Business Maverick: Can MTN Nigeria change the political optics through its local listing?

MTN Nigeria’s listing on the local exchange is both cautious but it promises much. It is a listing “by introduction” which means it is simply putting shares that were in the private realm onto a public market; there is no new issue of shares, there is no capital raising process and there is no placement process.

There are several ways it could do that, including a public offering not just of the Nigerian business but of the group as a whole. An MTN spokesperson Karen Byamugisha said MTN Group has also previously mentioned that it intends doing a public offering at a later stage “when market conditions are more conducive”. So this is probably only the first step.

There will be no direct link between the MTN Nigeria share price and the group share price; the local company will trade according to its own performance metrics. These would have been very good if it weren’t for the fact that the company keeps getting hit by regulatory fines most of which are dubiously founded.

In his public announcement, Moolman laid on the compliments with a trowel. “We appreciate the continued support afforded us by the government, regulators and people of this great nation”.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BUSINESS MAVERICK: MTN associate, Jumia Technologies, called a ‘fraud’One should never take reports written by short sellers (who have taken a bet that a stock price will go down), entirely at face value. However, a report on Jumia Technologies, dubbed Africa’s Amazon, does raise questions and concerns.
Source: dailymaverick - 🏆 3. / 84 Read more »

MTN Nigeria eyes debt and equity sale after stock market listingNigeria, MTN’s biggest market with 52.3 million users in 2017, accounts for a third of the South African group’s annual core profit, but it has faced problems in the country in recent years.
Source: ewnupdates - 🏆 30. / 53 Read more »

BUSINESS MAVERICK: MTN associate, Jumia Technologies, called a ‘fraud’One should never take reports written by short sellers (who have taken a bet that a stock price will go down), entirely at face value. However, a report on Jumia Technologies, dubbed Africa’s Amazon, does raise questions and concerns.
Source: dailymaverick - 🏆 3. / 84 Read more »

MTN Nigeria eyes debt and equity sale after stock market listingNigeria, MTN’s biggest market with 52.3 million users in 2017, accounts for a third of the South African group’s annual core profit, but it has faced problems in the country in recent years.
Source: ewnupdates - 🏆 30. / 53 Read more »

Business Maverick: Trade War Spurs `Change in Attitude’ on Gold for Spooked MarketsDonald Trump’s tweets are keeping global financial markets on edge, and many investors are opting for gold as a refuge.
Source: dailymaverick - 🏆 3. / 84 Read more »