MTN Nigeria Changes Name to Public Company Ahead of NSE Listing

Nigeria MTNMTN Photographer: Will Boase
  • MTN Nigeria Changes Name to Public Company Ahead of NSE Listing

Nigeria’s largest telecommunications company, MTN Nigeria, has changed its name from a private company to a public company.

MTN Nigeria Limited is now MTN Nigeria Public Liability Company (PLC).

In a statement released on Wednesday, the telecoms company said the change of name was a legal requirement and key milestone in the preparatory process for the company to be listed on the Nigerian Stock Exchange.

MTN Nigeria said the proposed listing would create a new class of telecoms asset for investors and provide a wider group of Nigerians with a chance to participate in the MTN investment opportunity.

Speaking on the conversion, Ferdi Moolman, the MTN Chief Executive Officer, said: “Our conversion to a Plc is a major step towards listing by introduction on the Nigerian Stock Exchange in the first half of 2019.

“It is a reaffirmation of our long-term commitment to expanding investment opportunities for Nigerians, in addition to providing everyday services to them.

“We look forward to continuing our engagement with the Securities and Exchange Commission and NSE to take forward the listing process.”

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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