The Securities and Exchange Commission (SEC) Tuesday confirmed reception of MTN Nigeria Communications Plc registration of 20,354,513,050 ordinary shares of N0.02 each, saying “SEC can confirm that we are in receipt of an application from MTN requesting for registration of their existing securities,” in a statement.
This is as the newly appointed Managing Director/Chief Executive Officer, NatCom Development Investment Limited, operators of Ntel 4G/VoLTE Network, Mr Babatunde Omotoba, assumed duties today, May 7, 2019.
A statement issued by Ntel’s Acting General Manager, Corporate Affairs, Damian Udeh explained that until the appointment as the CEO, Omotoba had served for three years as a high performing non-Executive Director at Ntel, on various committees of the board.
He said Omotoba would take over from Ernest Akinlola who recently resigned as the Managing Director/CEO.
The release signed by SEC’s image maker, Efe Ebelo added that “They have applied for listing by introduction which will enable the company to be listed and allow shareholders sell their shares on the floor of the exchange. Their application is presently receiving attention.”
Earlier, a statement sent to Business Hilights by MTN averred that “The completion of this process sets in motion the next steps in MTN’s intended listing by introduction on the Nigerian Stock Exchange (NSE)”.
Speaking on the announcement, the elated MTN CEO, Ferdi Moolman, said “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.”
Recall that few days ago, MTN Plc had announced completion of conversion from a private company to a public company (Plc), a step ahead hitting the Exchange.
Industry analysts are upbeat that the entrance of the telecoms giant which controls 37.8 per cent of Nigeria’s telecoms market and services 65.6 million customers, will positively disrupt the international reputation of the both the nation’s Exchange and the telecoms sector.
Business Hilights recalls that coming on the Nigerian Stock Exchange (NSE) remains one of the conditions reached in the resolution of a N330-billion fine placed on it by the Nigerian Communications Commission (NCC), for its inability to disconnect improperly registered SIM cards few years ago.
