MTN finally goes to SEC with 20 billion registered shares

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Telecom giant, MTN Nigeria Communications (MTN) announced it has finally registered 20,354,513,050 ordinary shares of N0.02 each with the Securities and Exchange Commission (SEC) to now become MTN Nigeria Communications (MTN) Plc.

“I am excited we have achieved another milestone in our listing process and want to thank the SEC and the Corporate Affairs Commission (CAC) for supporting us through the process.

“We have now begun to engage with the Nigerian Stock Exchange (NSE) to complete the listing process,’’ said Moolman even as he added that the SEC’s listing opens a new chapter of growth for  Nigeria’s largest telecom company with over 60 million subscribers.

MTN had recently altered its status as a private company to a public limited company as it gears up for listing on the Nigerian Stock Exchange (NSE) as a publicly quoted company.

MTN’s operations in Nigeria had recently come under scrutiny after brushes with both the country’s telecom and regulatory authorities. But its tax dispute appears over even as it finally rounds up on penalty payments after the telecom regulator fined it about a trillion naira for disregarding the rules on SIM registration.


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