MTN listing for Nigerian Stock Exchange go ginger young pipo interest for stock market - The Money Africa oga
MTN Nigeria wey be one of di major telecommunications network for Nigeria on Wednesday announce say dem go start to dey trade dia shares on top di Nigerian Stock Exchange from Thursday May 16, 2019.
Di company wey be part of MTN Group South Africa say na way to increase local ownership for Nigeria.
- Why Jumia no list for Nigeria Stock Exchange
- MTN dey cooperate wit Nigeria Central Bank on top $8.1 billion fine
MTN Nigeria go list by introduction and it mean say dem go list di current shares wey di company get without additional sale.
Tosin Olaseinde wey be di Founder of The Money Africa, tell BBC Pidgin say di listing go help ginger di interest of young pipo for di stock market.
"Di listing dey beneficial to di average Nigerian and even young pipo, because MTN na brand wey dem recognise and e go help increase dia ginger for di stock market. E go also help ginger activities for Nigeria capital market as di market don go down 10%"
Di company go be di first mobile provider for di stock market and dem tok say dem go fit do public offering for di future.
Di listing value MTN Nigeria at $6bn (£4.5bn).
Di deal na part of agreement wit Nigerian goment after dem ask MTN to pay $8.1bn to Nigeria central bank over tax gbege.
For 2018, di company tok say dem go pay $53m to settle di dispute.
Olaseinde add say di listing go also epp di operations for MTN for Nigeria and dem go encounter less gbege because now dem go see di company as Nigerian business.
Nigeria na MTN biggest market for Africa and dem get nearly 60 million customers at di end of last year.
Di company also dey listen for South Africa and Ghana and e be like say Uganda go soon enter dia as push dey for local ownership by authorities for Kampala.