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Nairaland Forum / Nairaland / General / Business / MTN To Pick More Banks To Work On Planned Nigerian IPO (12702 Views)
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MTN To Pick More Banks To Work On Planned Nigerian IPO by Mrakeli: 3:36pm On Apr 20, 2018 |
MTN Group Ltd. has appointed more banks for the sale of shares in its Nigerian unit on the stock exchange in Lagos as it looks to start an initial public offering in June or July, according to people familiar with the matter. The Johannesburg-based wireless operator, Africa’s largest by sales, has picked several banks and brokers including Renaissance Capital, FirstRand Ltd.’s Rand Merchant Bank and Nigerian firm Chapel Hill Denham to work with global co-ordinators Citigroup Inc. and Standard Bank Group Ltd., said the people, who asked not to be named as the matter is private. The company met its bankers on Wednesday and held a presentation for foreign and local analysts on Friday in Lagos to give them more details about the deal and MTN Nigeria’s finances, they said. MTN is yet to decide what portion of the subsidiary to sell, they said. It may aim to raise about $400 million, or roughly 10 percent of the stock, two of the people said. An MTN spokesman declined to comment. The company agreed to the listing in June 2016 as part of a $1 billion fine for missing a deadline to disconnect unregistered subscribers amid a security crackdown by Nigerian authorities. The penalty, originally set at $5.2 billion, led to the resignation of MTN’s then chief executive officer, a first ever full-year loss and a slump in the share price that’s yet to be clawed back. MTN Nigeria has 52 million subscribers and generated 36 billion rand ($3 billion) of revenue in 2017, according to MTN’s financial statements. It made earnings before interest, taxes, depreciation and amortization of 14 billion rand. Rob Shuter, MTN’s current CEO, said in an interview this month that he expected the IPO to be finalized by the end of the year. MTN is also selling shares of its Ghana unit, which has 19 million subscribers, in the capital, Accra. It may list a 35 percent stake there for almost $800 million, people familiar with the matter said in March. http://www.akelicious.net/2018/04/mtn-to-pick-more-banks-to-work-on.html
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Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by Sleezwizz: 3:41pm On Apr 20, 2018 |
Kk |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by FreshGuy2(m): 3:42pm On Apr 20, 2018 |
Woow.. I'm First to comment at last. |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by inoki247: 3:42pm On Apr 20, 2018 |
okay pick Buhari so e go buy more chair for him house wey pipu fit sit wen dey come visit him 2019 in d village and some lazy youth will like to have some chairs too... |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by steveyoungwealth: 3:42pm On Apr 20, 2018 |
, |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by Annnonymous: 3:42pm On Apr 20, 2018 |
[s] cwise:[/s]
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Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by datola: 3:43pm On Apr 20, 2018 |
Is buying an IPO still a good investment in the present Nigeria? |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by mustmust(m): 3:43pm On Apr 20, 2018 |
these people that have been reaping off Nigerians for years? |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by Sarang(f): 3:43pm On Apr 20, 2018 |
![]() Please check my signature |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by miracle956: 3:44pm On Apr 20, 2018 |
I am quite sure their largest customer base is in this country |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by Nobody: 3:45pm On Apr 20, 2018 |
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Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by nairavsdollars(f): 3:45pm On Apr 20, 2018 |
Fraud IPO |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by Nobody: 3:45pm On Apr 20, 2018 |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by kulrunsman79(m): 3:45pm On Apr 20, 2018 |
Mtn IPO? Interestingly, lemme see if I will buy.....who knows it may eventually be better than DAAR and FIDELITY bank shares which almost sent me heart attack... 3 Likes |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by Jethrolite(m): 3:46pm On Apr 20, 2018 |
Very reluctant IPO, they should be raising at least $1bn. At least, now the public can see the inner financial workings of MTN Nigeria. |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by lastempero: 3:47pm On Apr 20, 2018 |
Delay tactics on display,mtn must share their profits with Nigerians. |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by labisibrass(m): 3:48pm On Apr 20, 2018 |
Sigh! |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by talk2percy(m): 3:48pm On Apr 20, 2018 |
I no dey buy! No be MTN? |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by talk2percy(m): 3:49pm On Apr 20, 2018 |
I no dey buy! No be MTN again? Ndi ara |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by Nobody: 3:49pm On Apr 20, 2018 |
datola: For MTN, it will always be a good buy |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by Nobody: 3:50pm On Apr 20, 2018 |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by faithfull18(f): 3:59pm On Apr 20, 2018 |
Okay,good. MTN Data Bundles Selling Fast! Contact me to get yours now!! |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by kmaster007: 3:59pm On Apr 20, 2018 |
like seriously I don't like dis South Africa coming to Nigeria to make more money more Dan wat dey earn in deir country. and our Senate dey deir do dey play Tom and Jerry for us. |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by AreaFada2: 4:06pm On Apr 20, 2018 |
kmaster007: MTN despite their antics, have provided more choice to Nigerian consumers. If NITEL was serious, it should have taken a big market share before MTN and others came. Especially as NITEL failed with landline miserably. They should have taken GSM technology that requires less physical infrastructure very seriously when the licences were auctioned by OBJ. 2 Likes |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by sonnie10: 4:15pm On Apr 20, 2018 |
This IPO is ill timed. For the fact that it is coming at a time when MTN is struggling to pay the fine. It seems all they want to do is to carve out a subsidiary to raise the money. More like robbing Peter to pay Paul. 2 Likes |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by vicdom(m): 4:15pm On Apr 20, 2018 |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by supereagle(m): 4:21pm On Apr 20, 2018 |
lastempero:They don't pay their share holders well in South Africa. |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by IamaNigerianGuy(m): 4:37pm On Apr 20, 2018 |
sonnie10: On point. Trying to make the government clampdown work for them by raising free money from gullible investors. |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by Nobody: 4:41pm On Apr 20, 2018 |
MTN performing well continentally. |
Re: MTN To Pick More Banks To Work On Planned Nigerian IPO by lastempero: 5:21pm On Apr 20, 2018 |
supereagle: But at least let's recycle our money small instead of it been stashed our to south Africa. |
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