Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,201,375 members, 7,978,192 topics. Date: Thursday, 17 October 2024 at 09:32 PM |
Nairaland Forum / Nairaland / General / Business / MTN Plans $500 Million Share Sale In Nigeria (7936 Views)
BUA Cement Secures $500 Million Facility To Boost Industrialization, Create Jobs / Meet Jude Igwemezie, Biography, Won A $500 Million Contract In Iraq / Shoprite Shareholders Approve Ex-CEO’s $135 Million Share Sale (2) (3) (4)
MTN Plans $500 Million Share Sale In Nigeria by BrandSpurNG: 8:44pm On Feb 11, 2018 |
The MTN Group plans to raise about $500 million from the sale of shares in its Nigerian business during the first half of the year, fulfilling the terms of a deal struck with the West African nation to settle a record fine, according to people familiar with the matter. Standard Bank Group Limited and Citigroup have been advising Africa’s largest mobile-phone company on the disposal of as much as 30 percent of the Lagos-based unit on the Nigerian Stock Exchange, Bloomberg quoted people who asked not to be identified as the details aren’t public. Most of the shares will be sold to local institutions and individuals, though foreign investors could be brought in to ensure the process is a success, one of the people said. Discussions are on-going and a final decision hasn’t been made, they said. Spokespeople for MTN and Citigroup in Johannesburg didn’t immediately comment. Standard Bank didn’t immediately respond to calls seeking comment. MTN agreed to list the Nigerian unit as part of a June 2016 agreement to pay a $1 billion fine for missing a deadline to disconnect unregistered subscribers amid a security crackdown. The penalty, originally set at $5.2 billion, led to the resignation of the Johannesburg-based company’s then chief executive officer and a slump in the share price that’s yet to be clawed back. The stock extended gains, and traded 4.5 percent higher at 128.83 rand as of the close in Johannesburg, giving a market value of 243 billion rand ($20 billion). If successful, the Lagos share sale will be the biggest on the Nigerian Stock Exchange after Starcomms Plc, which raised $796 million when it listed in 2008, according to data compiled by Bloomberg. MTN, Nigeria’s biggest mobile-phone company with just over 50 million subscribers as of end September, slumped to a loss in 2016 as it absorbed the financial impact of the fine, though said last month it returned to profit the following year. Nigeria and other sub-Saharan African governments are trying to gain more from international mobile-phone operators taking advantage of rising smartphone use and faster data speeds. MTN has also agreed to sell shares in Ghana as one of the conditions of a deal to gain spectrum rights, while Vodacom Group Ltd., South Africa’s market leader, was ordered to list 25 percent of its Tanzanian business last year, raising $213 million. SOURCE: https://brandspurng.com/mtn-plans-500-million-share-sale-in-nigeria/
|
Re: MTN Plans $500 Million Share Sale In Nigeria by GMBuhari: 1:22am On Feb 12, 2018 |
Nobody should buy their shares I read NCC might not renew their operating licence and that by June 2017 their current license will expire Don't say they didn't tell you o Obviously this comment was made at a time when I was very tired and sleepy The information I meant to pass wasn't for MTN it was for multichoice and their licence renewal comes up in 2019 not 2017 I mean sensible people can connect the dots themselves and correct as necessary, as for the idiots insulting me for this mistake I hope you got your pound of flesh I'm coming for you 4 Likes |
Re: MTN Plans $500 Million Share Sale In Nigeria by postbox: 7:02am On Feb 12, 2018 |
Interesting |
Re: MTN Plans $500 Million Share Sale In Nigeria by rodeo0070(m): 7:13am On Feb 12, 2018 |
Empty-hen |
Re: MTN Plans $500 Million Share Sale In Nigeria by Gkay1(m): 7:26am On Feb 12, 2018 |
i tire dis morning jor. |
Re: MTN Plans $500 Million Share Sale In Nigeria by chinawapz(m): 7:27am On Feb 12, 2018 |
Meaning Get your website ready with affordable price check my signature |
Re: MTN Plans $500 Million Share Sale In Nigeria by nony43(m): 7:27am On Feb 12, 2018 |
F |
Re: MTN Plans $500 Million Share Sale In Nigeria by mcdokwe(m): 7:30am On Feb 12, 2018 |
GMBuhari:June 2017? 5 Likes |
Re: MTN Plans $500 Million Share Sale In Nigeria by lonelydora: 7:30am On Feb 12, 2018 |
Something is not right with this sale. We are waiting. Meanwhile, have they paid their fine? |
Re: MTN Plans $500 Million Share Sale In Nigeria by braine(m): 7:30am On Feb 12, 2018 |
Why do I feel this has a shady undertone? 1 Like 1 Share |
Re: MTN Plans $500 Million Share Sale In Nigeria by lonelydora: 7:32am On Feb 12, 2018 |
GMBuhari: Why? Because of the fine? |
Re: MTN Plans $500 Million Share Sale In Nigeria by Nobody: 7:35am On Feb 12, 2018 |
Owing MTN shares would be a good investment. 2 Likes |
Re: MTN Plans $500 Million Share Sale In Nigeria by funsho75(m): 7:35am On Feb 12, 2018 |
B |
Re: MTN Plans $500 Million Share Sale In Nigeria by FarahAideed: 7:37am On Feb 12, 2018 |
GMBuhari: Another senseless comment from you again ..june 2017 indeed ...All you Buhari sadist praying for MTN to fall you are the ones that will fall to your disgrace instead . 3 Likes |
Re: MTN Plans $500 Million Share Sale In Nigeria by Rekeb: 7:37am On Feb 12, 2018 |
GMBuhari: The above is FAKE NEWS. MTN's licence was renewed in 2015. Next renewal will not come up until 2021 http://thenationonlineng.net/ncc-okays-mtns-n18-6b-spectrum-licence-renewal-bid/ [Quote]NCC okays MTN’s N18.6b spectrum licence renewal bid Posted By: Lucas Ajanaku On: November 4, 2015 In: Business The Nigerian Commununications Commission (NCC) has granted MTN’s application for renewal of its licence. MTN has uptil next month to pay the $94.2 million (about N18.6billion) for the renewal, which will subsist till 2021.[/Quote] 1 Like |
Re: MTN Plans $500 Million Share Sale In Nigeria by Nobody: 7:42am On Feb 12, 2018 |
Time to invest |
Re: MTN Plans $500 Million Share Sale In Nigeria by Professor101(m): 7:43am On Feb 12, 2018 |
Good for them. All i want is cheaper calls and cheaper data sub. Need a Dynamic WEBSITE Design? Get started with no advanced payments. Click to see our portfolio & more details: https://www.validprofits.com/affordable-website-design-in-nigeria/ |
Re: MTN Plans $500 Million Share Sale In Nigeria by Flyingngel(m): 7:44am On Feb 12, 2018 |
GMBuhari post= Nobody should buy their shares I read NCC might not renew their operating licence and that by June 2017 their current license will expire Don't say they didn't tell you o. That one is for Dstv. |
Re: MTN Plans $500 Million Share Sale In Nigeria by leofab(f): 7:46am On Feb 12, 2018 |
Another plot to exploit us and take the bounty to ZA... |
Re: MTN Plans $500 Million Share Sale In Nigeria by nony43(m): 7:47am On Feb 12, 2018 |
GMBuhari: If I hear that they won't renew their operating license, MTN is their oil mill |
Re: MTN Plans $500 Million Share Sale In Nigeria by Ojemedad: 7:48am On Feb 12, 2018 |
This is one of the few shares I can confidently buy in Nigeria |
Re: MTN Plans $500 Million Share Sale In Nigeria by greenca2: 7:49am On Feb 12, 2018 |
Re: MTN Plans $500 Million Share Sale In Nigeria by supereagle(m): 7:55am On Feb 12, 2018 |
GMBuhari: |
Re: MTN Plans $500 Million Share Sale In Nigeria by justlaw(m): 7:58am On Feb 12, 2018 |
Just imagine how you are fooling yourself this Monday morning. Please, stop giving people false info GMBuhari: 2 Likes 1 Share |
Re: MTN Plans $500 Million Share Sale In Nigeria by Mrkumareze(m): 8:01am On Feb 12, 2018 |
They want to rob Paul to pay Peter. God is watching you |
Re: MTN Plans $500 Million Share Sale In Nigeria by Ijaya123: 8:07am On Feb 12, 2018 |
GMBuhari: June 2017... Are you usually this dumb? 1 Like |
Re: MTN Plans $500 Million Share Sale In Nigeria by EmperorAlonzo1: 8:08am On Feb 12, 2018 |
GMBuhari: 2017 or 2018 |
Re: MTN Plans $500 Million Share Sale In Nigeria by Nobody: 8:08am On Feb 12, 2018 |
Too small Less than 100billion |
Re: MTN Plans $500 Million Share Sale In Nigeria by Benekruku(m): 8:08am On Feb 12, 2018 |
GMBuhari: What do you profit from peddling lies? Do you get paid for it? Hello! You cant take away MTN from Nigeria. Its impossible! Wake up to that reality. And if you must know, It has the largest subscriber base and coverage. The strongest we presently have in Nigeria....... If Nigeria must move ahead to compete with the world in mobile network technology, "ONLY" MTN can get us there! #FACT 1 Like |
Re: MTN Plans $500 Million Share Sale In Nigeria by Benekruku(m): 8:09am On Feb 12, 2018 |
FarahAideed: Amen! |
Re: MTN Plans $500 Million Share Sale In Nigeria by EmperorAlonzo1: 8:09am On Feb 12, 2018 |
Ijaya123:i b reason dat question........na wich planet dat guy dy sev |
Re: MTN Plans $500 Million Share Sale In Nigeria by debolayinka(m): 8:10am On Feb 12, 2018 |
GMBuhari:Do you renew your stupidity everyday? Just be talking trash like the Mumu in your moniker.
|
How To Become A Legit Or Legal Yahoo Boy In Nigeria, Without Efcc Wahala / Ghana's Economy Is The Fastest Growing In The World - Economy Watch / Best Bank In Nigeria To Have A Savings Account
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 45 |