MTN Nigeria takes steps towards listing and appoints transaction advisors

On 10 June 2016, MTN Nigeria announced that, as part of a settlement arrangement with the Federal Government of Nigeria, it would undertake to take immediate steps to ensure the listing of its shares on The Nigerian Stock Exchange (The NSE) as soon as commercially and legally possible.

At present, MTN Nigeria is targeting that the listing takes place during 2017, subject to suitable market conditions.

MTN Nigeria is further  announced that it has appointed Stanbic IBTC Capital Limited (together with its affiliates, The Standard Bank of South Africa Limited and Standard Advisory London Limited) (collectively “Stanbic”) and Citigroup Global Markets Limited (“Citi”) as its Joint Transaction Advisors and Joint Global Coordinators with Stanbic acting as Lead Issuing House. A full syndicate including Nigerian receiving agents, Nigerian receiving banks and other advisers would be appointed in due course, as appropriate.

The proposed listing would be subject to suitable market circumstances and conditions and the appropriate approvals from relevant regulators and other stakeholders.