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<p>Financial Derivatives CEO Bismarck Rewane has described MTN Nigeria’s listing on the Nigerian Stock Exchange as a major vote of confidence on the exchange. He discussed the significance of the listing with CNBC Africa’s Kenneth Igbomor.</p>


MTN Nigeria listing a vote of confidence on NSE – Financial Derivatives CEO

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<p>MTN Nigeria shares rose by another 10 percent to 108 Naira 90 kobo per share price in its second trading session. Kayode Omosebi, Team Lead, Financial Advisory at ARM Securities joins CNBC Africa to discuss the significance of the listing and assess Nigeria’s investment climate.</p>


MTN Nigeria gains 10% on second trading day

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<p>Stanbic IBTC was one of the financial advisers in the listing by introduction MTN Nigeria on the Nigerian Stock Exchange. Funso Akere, Chief Executive at Stanbic IBTC Capital joined CNBC Africa’s Esther Awoniyi on the floor of the exchange to share some insight on the process.</p>


Stanbic IBTC’s Funso Akere speaks on MTN Nigeria listing

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<p>Today is the much-anticipated landmark listing by way of introduction of 20.4 million ordinary shares of MTN Nigeria shares on the Premium Board of the Nigerian Stock Exchange; Oscar Onyema, CEO of the Nigerian Stock Exchange and MTN Nigeria CEO Ferdi Moolman join CNBC Africa’s Esther Awoniyi from the floor of the NSE to share what this listing means for the Nigerian bourse.</p>


MTN Nigeria CEO speaks on NSE listing

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<p>Ahead of MTN Nigeria&#8217;s listing today, Bolaji Balogun, CEO of Chapel Hill Denham joins CNBC Africa’s Esther Awoniyi from the floor of the Exchange to share his perspective on the significance of this listing.</p>


Chapel Hill Denham CEO shares his perspective on MTN Nigeria listing

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<p>Ahead of MTN Nigeria’s planned listing on the Nigerian Stock Exchange, CNBC Africa’s Debbie Movoria spoke to some analysts on their expectations of the listing on the country’s capital market.</p>


MTN Nigeria listing: Experts speak out

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<p>MTN Group goes ahead with its Nigerian listing today with the price set at 90 naira. Joining CNBC Africa for more on the listing is Lanre Buluro, Director of Chapel Hill.</p>


Why MTN listing will be a game changer for Nigeria

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<p>MTN group goes ahead with its Nigerian listing today with the price set at 90 naira. CNBC Africa reporter Esther Awoniyi shares more details.</p>


MTN Nigeria lists on NSE, valuing it over R70bn

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<p>As MTN Nigeria plans to list about 20.35 billion shares on the Nigerian Stock Exchange by way of introduction tomorrow, Tajudeen Ibrahim, VP and Head of Research at Chapel Hill Denham joins me to assess the equities market on the eve of this landmark listing.</p>


Nigeria’s equities market anticipates MTN Nigeria listing


<p>ABUJA (Reuters) &#8211; MTN Nigeria announced plans to float its stock in Lagos on Thursday in a deal valued at $6 billion, following the South African telecoms group’s agreement with Nigerian regulators to settle a long-running dispute.</p>



<p>Nigeria, MTN’s biggest market with 52.3 million users in 2017, accounts for a third of the Johannesburg-based company’s annual core profit, but it has faced problems in the country in recent years.</p>



<p>In December, MTN agreed to make a $53 million payment to resolve a dispute in Nigeria. The move ended a multi-billion dollar dividend repatriation row, hitting its share prices in Johannesburg.</p>



<p>MTN on Wednesday said the listing price was set 90 naira, determined from private over-the-counter share deal by existing shareholders over the past six months. It has said it would list 20.4 billion shares on the Nigerian bourse. The price values the telecoms company at 1.84 trillion naira ($6 billion).</p>



<p>MTN, owned 78.8% by South Africa’s MTN Group, has been one of the main beneficiaries of Nigeria’s push to liberalise its economy over the past two decades. But it has come under increased pressure from the government to boost local ownership.</p>



<p>MTN Group CFO, Ralph Mupita said the listing was an important step towards increasing local ownership in MTN Nigeria and building the country’s equity capital markets. Nigerian investors own 19.4% of MTN Nigeria.</p>



<p>The company also said it was relying on local funding in naira to mitigate exchange rate volatility, adding it was arranging local naira financing.</p>



<p>MTN Group said the company has received approval from the Nigerian Stock Exchange to list its shares on Thursday, giving its existing shareholders access to trade their shares on the bourse.</p>



<p>The company also said the Nigerian unit will raise debt, adding that the total level rose 44% to 252 billion naira ($823.66 million) in the first quarter.</p>



<p>“This is just the beginning, we still intend to pursue a future public offer giving more Nigerians greater access to the MTN opportunity,” Ferdi Moolman, chief executive of MTN Nigeria, said.</p>



<p>MTN decided to list its local company in Nigeria in 2016 after agreeing to pay a $1.7 billion fine to settle a SIM card dispute with the government. Earlier, the company said it planned to list in the first half of 2019.</p>



<p>The company said capital expenditure in the first quarter, rose to 63 billion naira, the bulk of which went to upgrade its network, up from 18 billion naira same period last year.</p>



<p>Service revenue grew 13.4% to 282 billion naira in the first quarter, driven by a rise in voice and data income and the addition of 2.1 million mobile subscribers.</p>



<p>Earnings before interest, taxes, depreciation and amortization (EBITDA), a measure of operating profit, reached 150.4 billion naira ($492 mln) in the three months to March 2019, up from 123 billion naira a year earlier, MTN said.</p>



<p>MTN said it targets a dividend payout ratio of at least 80% of its net income in the medium term.</p>



<p>($1 = 305.95 naira)</p>



<p>Reporting by Chijioke Ohuocha; Editing by James Emmanuel and Louise Heavens</p>


What you need to know about MTN Nigeria’s plans to list shares in Lagos in $6 bln flotation

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<p>Nigeria’s largest mobile operator, MTN Nigeria, says it has received approval to list on the Premium Board of the Nigerian Stock Exchange by way of introduction. The CEO of MTN Nigeria Ferdi Moolman says the company still intends to pursue a future public offer in order to give more Nigerians greater access to the MTN opportunity. Aigboje Higo, Managing Director of Capital Bancorp joins CNBC Africa to explain the process of listing by introduction.</p>


MTN Nigeria to list on NSE on May 16

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<p>MTN Nigeria’s planned listing will be one of the few big-ticket listings on the Nigerian Stock Exchange in a while. Egie Akpata, Director at Union Capital Markets joins CNBC Africa to evaluate the growth of Nigeria&#8217;s capital market.</p>


How can Nigeria’s capital market spur growth?

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<p>The Federal High Court in Lagos has ruled against the preliminary objection filed by Nigeria&#8217;s Attorney General in response to the three billion Naira suit filed against him by telecoms operator MTN Nigeria. The court ruled that MTN Nigeria met the deadline to respond to the tax demand levelled by the Attorney General of the Federation. Theophilus Emuwa, Managing Partner at AELEX joins CNBC Africa to discuss this story.</p>


Understanding MTN Nigeria’s legal battle with attorney general


<p>LAGOS (Reuters) &#8211; South African telecoms firm MTN has converted its Nigerian unit into a public company before its planned listing on the Nigerian bourse in the first half of the year.</p>



<p>MTN Nigeria said on Wednesday the conversion was a legal requirement to prepare for the listing and it was engaging with the Securities and Exchange Commission and Nigerian Stock Exchange.</p>



<p>“Our conversion to a Plc is a major step towards listing by introduction on the Nigerian Stock Exchange in the first half of 2019,” MTN Nigeria chief executive Ferdi Moolman said.</p>



<p>Nigeria is MTN’s biggest market, with 52.3 million users in 2017, and accounts for a third of the company’s annual core profit, but has proven problematic in recent years.</p>



<p>In December, MTN agreed to make a $53 million payment to resolve a dispute in Nigeria. The move ended a four-month multi-billion dollar dividend repatriation row that hammered its share price.</p>



<p>Moolman said last month he expected the listing on the Nigerian bourse to be “probably more towards April and May”.</p>



<p>The company expects to list the unit without raising money from investors immediately, and has said it would simplify its capital structure before the listing.</p>



<p>Reporting by Chijioke Ohuocha; Editing by Edmund Blair and Mark Potter</p>


What you need to know about MTN converting its Nigerian unit to public company before planned listing

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<p>MTN Group CEO Rob Shuter says the big focus for MTN’s Nigeria unit is the listing on the Nigerian Stock Exchange. He added that plans are well advanced and the listing should take place by the first half of the year. He discussed this and more with CNBC Africa’s Fifi Peters.</p>


MTN Nigeria set for NSE listing in H1’19

<p>JOHANNESBURG (Reuters) &#8211; Telecoms firm MTN said on Tuesday that it was continuing to hold talks with Nigerian officials to find a mutually acceptable solution to a dispute over the alleged transfer of $8.1 billion of funds.</p>
<p>“Shareholders are advised to continue to exercise caution when dealing in the company’s securities until a further announcement is made,” MTN said in a statement on the Johannesburg Stock Exchange, where its shares are listed.</p>
<p>Reporting by Alexander Winning; Editing by Sunil Nair</p>


MTN continues talks with Nigeria over $8.1 billion dispute

<p>ABUJA (Reuters) &#8211; MTN has received a counterclaim from Nigeria’s central bank to its request for an order to stop the bank forcing it to repatriate $8.1 billion it claims was illegally sent out of the country, the South African telecom’s lawyer said on Friday.</p>
<p>MTN has received the central bank’s response to its court filing, Wole Olanipekun said, adding that MTN will file a reply to the bank’s claim.</p>
<p>The central Bank of Nigeria (CBN) in August ordered MTN and its lenders to bring back the funds which it alleged the company had sent abroad in breach of foreign exchange regulations.</p>
<p>“MTN had gone to court, sued the central bank and the attorney general. The central bank has filed a response and a counter claim, meaning that nobody can resort to self-help in the matter any longer,” Olanipekun told Reuters.</p>
<p>“With this development everybody has now surrendered &#8230; the greviances to the court. Everybody has to wait for the decision of the court.”</p>
<p>CBN spokesman Isaac Okorafor said: “Although there’s a case in court, the CBN is aggressively engaging MTN and the banks and I’m hopeful that an amicable resolution will soon be achieved.”</p>
<p>Reporting by Chijioke Ohuocha; Editing by Jan Harvey and Emelia Sithole-Matarise</p>


MTN Nigeria

MTN Nigeria listing a vote of confidence on NSE – Financial Derivatives CEO

MTN Nigeria gains 10% on second trading day

Stanbic IBTC’s Funso Akere speaks on MTN Nigeria listing

MTN Nigeria CEO speaks on NSE listing

Chapel Hill Denham CEO shares his perspective on MTN Nigeria listing

MTN Nigeria listing: Experts speak out

Why MTN listing will be a game changer for Nigeria

MTN Nigeria lists on NSE, valuing it over R70bn

Nigeria’s equities market anticipates MTN Nigeria listing

What you need to know about MTN Nigeria’s plans to list shares in Lagos in $6 bln flotation

MTN Nigeria to list on NSE on May 16

How can Nigeria’s capital market spur growth?

Understanding MTN Nigeria’s legal battle with attorney general

What you need to know about MTN converting its Nigerian unit to public company before planned listing

MTN Nigeria set for NSE listing in H1’19

MTN continues talks with Nigeria over $8.1 billion dispute

Nigeria’s central bank responds to MTN with a counterclaim, what you need to know…

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MTN Nigeria

MTN Nigeria listing a vote of confidence on NSE – Financial Derivatives CEO

MTN Nigeria gains 10% on second trading day

Stanbic IBTC’s Funso Akere speaks on MTN Nigeria listing

MTN Nigeria CEO speaks on NSE listing

Chapel Hill Denham CEO shares his perspective on MTN Nigeria listing

MTN Nigeria listing: Experts speak out

Why MTN listing will be a game changer for Nigeria

MTN Nigeria lists on NSE, valuing it over R70bn

Nigeria’s equities market anticipates MTN Nigeria listing

What you need to know about MTN Nigeria’s plans to list shares in Lagos in $6 bln flotation

MTN Nigeria to list on NSE on May 16

How can Nigeria’s capital market spur growth?

Understanding MTN Nigeria’s legal battle with attorney general

What you need to know about MTN converting its Nigerian unit to public company before planned listing

MTN Nigeria set for NSE listing in H1’19

MTN continues talks with Nigeria over $8.1 billion dispute

Nigeria’s central bank responds to MTN with a counterclaim, what you need to know…

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