RabbiDoracle:


At N200? That means that Charlie boy is still with his switch

Over 110m units of MTN worth over 14.5billion traded today.

NSE TOP GUNS. FOREIGN INVESTORS. GOVERNMENT PARASTATALS BANK CEOS. POLITICIANS. STOCK BROKERS. LOCAL INVESTORS all chasing MTNN.

Godlylifeoneart:
https://m.guardian.ng/business-services/regulator-stockbrokers-differ-on-mtn-free-float-share-listing

In a recent post, I made mention of an imminent burst with respect to MTN Nigeria.
I will not be surprised if the government constitute a probe panel to look into the matter. There is gross violation of our dignity and respect by few individuals, unpatriotic and heartless Nigerians who collaborated with MTN to reap us off.
Same way these individuals collaborated with MTN to move $8 B out of Nigeria economy illegally.
Buhari plan was to withdraw the License of MTN but coz of the outcried and uproared that greeted the matter and the potential devastating effects on Nigeria economy, he acted diplomatically which was commended.
Still d company has failed to realize that the illegallties they are perpetrating in Nigeria cannot be done in many parts of the world.
I expect the company to react and release 20% of the 20 billion on NSE for the patriotic people of Nigeria. You cannot be the issuer and be the trader at the same time.
This is basically what MTN is doing to the people of Nigeria.

Do you mean Nigerian government? Are you a stranger in Nigeria. Even if the bolded materialises, what will be the outcome. Wait a minute, do they actually know what the NSE is all about

Nigerian government only reacts when their cronies has interests on particular stocks. Oando is a case study.

aremso:


dont also forget that dangcem dividend qualification date is 3rd June 2019

i have been wondering what the cause is

Thank you sharp man. it is apparently to create room for mark down after adjustment

[quote author=Godlylifeoneart post=78586926]https://m.guardian.ng/business-services/regulator-stockbrokers-differ-on-mtn-free-float-share-listing

Names of some naija shareholders was posted here .so is not all about them but rather who wants to sell!!

Bids on MTNN has dropped. Seems institutional guys are ready to offload tomorrow

Godlylifeoneart:
https://m.guardian.ng/business-services/regulator-stockbrokers-differ-on-mtn-free-float-share-listing

In a recent post, I made mention of an imminent burst with respect to MTN Nigeria.
I will not be surprised if the government constitute a probe panel to look into the matter. There is gross violation of our dignity and respect by few individuals, unpatriotic and heartless Nigerians who collaborated with MTN to reap us off.
Same way these individuals collaborated with MTN to move $8 B out of Nigeria economy illegally.
Buhari plan was to withdraw the License of MTN but coz of the outcried and uproared that greeted the matter and the potential devastating effects on Nigeria economy, he acted diplomatically which was commended.
Still d company has failed to realize that the illegallties they are perpetrating in Nigeria cannot be done in many parts of the world.
I expect the company to react and release 20% of the 20 billion on NSE for the patriotic people of Nigeria. You cannot be the issuer and be the trader at the same time.
This is basically what MTN is doing to the people of Nigeria.

What exactly do you want them to do?

This is not an offer for sale or IPO.

Shares have been listed. Are you going to put a gun to people's head for them to sell their shares to you? If you had MTN shares on the day of introduction, would you sell it?

Thank you. Please help me to loud it.

einsteine:


What exactly do you want them to do?

This is not an offer for sale or IPO.

Shares have been listed. Are you going to put a gun to people's head for them to sell their shares to you? If you had MTN shares on the day of introduction, would you sell it?

DeRuggedProf:
No idea, faulty parked cars need warming every morning to prevent the battery from running down, to prevent buyers from saying it has a knocked engine. You can even move it around the yard, but never venture out on a journey...

Lol. He's successfully moving it around the yard.

profem1:
Bids on MTNN has dropped. Seems institutional guys are ready to offload tomorrow

They have no option than to respond to the outcries of the people.
It is not an issue of holders selling or not. It was the decision of MTN to list and free float the stock.
Once the company made the decision, it become the responsibility of holders to surrender the 20% of the 20 billion units.
Which means on the first day of listing, investors should have access to the 4 billion unit of MTN. It is now our responsibility to trade it among ourselves.
Not the cross dealings we are witnessing since 17th of May. MTN and her shareholders cannot be the issuer and the seller. It will only create an artificial bull which will eventually burst the bubble by the time the market is flooded with just 2Billion units.10%
By this time the GEPF of South Africa would have exited the market and the bubble would become unsustainable.
The Nigeria holders do not have up to 20% of the total units of MTN.
In any case, it's a Lesson for the Nigeria leaders of tomorrow, Never surrender your economy to foreign investors. If Obasanjo had insisted that MTN should list within 5 years of being licensed, the company would never have objected coz they too were desperate to invest in Nigeria.

stcool:
EKU dumping O! ... Fidelity Ati FCMB

Oga tritri wetin happen here.
Na jejely dem forget these two when you come mention say dey no fall, since then dumping don start, make you come carry your 'dumping' oo.

Mcy56:

Oga tritri wetin happen here.
Na jejely dem forget these two when you come mention say dey no fall, since then dumping don start, make you come carry your 'dumping' oo.

No ooh..i dey dump transcorp dis market i no understand.

tritritri:
No ooh..i dey dump transcorp dis market i no understand.

Loco is coming for you.
Abeg no reach transcorp side, na transcorp and thomaswatt get liver to withstand MTN's bullying. Just allow them be.

One company alone traded ... more than N14billion, just in a day, hmmmm!

But him spirit suppose chase out bear now.

veecovee:

One company alone traded ... more than N14billion, just in a day, hmmmm!

But him spirit suppose chase out bear now.

IF NOT FOR MTNN ALL INDEX FOR DEY 25K..

Oh boy it was an interesting experience. Unfortunately i came 4th out of 5 nominees in the election of Audit committee members, with the top three selected.
Nothing really new were disclosed today at the AGM even though some strong questions were asked by some Shareholders.
About the Caverton / Osibanjo incident, the Chairman said they cant discuss on the matter as AIB is still investigating. I believe this accident report will be a determiner on Insurance claim or maintenance cost.

Then, there was abit of unruly behavior by hungry shareholders who were majority in attendance, over the sharing of Gift bags. There was so much shouting and pushing, at a time it was like a stampede sef. I totally agree with SEC on the ban of Gift sharing at AGMs. This gifts only attract shameless fellows who careless about the company (as they dont own tangible units of shares) and neither do they contribute meaningful questions and suggestions. They want the AGM end so fast (without grilling the management and board), so they can get the gifts and go to the next event.

Na so one of them come meet me, said; sorry i didnt win the vote, but i should buy him recharge card, and whenever i want to run again, he will help me organise people to vote for me at a fee. He also said he came from Ondo for the AGMs. So basically, it has turn to some Inec vote buying thing.

Infinitisi:
@jideflash how did it go?

UBA's line of defense at N6 got broken today.

Why are we so fixated in the success story of MTNN? When are the others going to list? Airtel, Glo, and 9Mobile. We should remember that Mtel also started when MTNN and Econet were both given licenses. I know that no one will be interested in buying Glo because no one can be sure of what he/she is buying. Let us as a Country be interested in encouraging FDIs whilst we tighten all loose ends by ensuring that businesses
that comes here are appropriately taxed according to our laws and regulations.

Godlylifeoneart:

They have no option than to respond to the outcries of the people.
It is not an issue of holders selling or not. It was the decision of MTN to list and free float the stock.
Once the company made the decision, it become the responsibility of holders to surrender the 20% of the 20 billion units.
Which means on the first day of listing, investors should have access to the 4 billion unit of MTN. It is now our responsibility to trade it among ourselves.
Not the cross dealings we are witnessing since 17th of May. MTN and her shareholders cannot be the issuer and the seller. It will only create an artificial bull which will eventually burst the bubble by the time the market is flooded with just 2Billion units.10%
By this time the GEPF of South Africa would have exited the market and the bubble would become unsustainable.
The Nigeria holders do not have up to 20% of the total units of MTN.
In any case, it's a Lesson for the Nigeria leaders of tomorrow, Never surrender your economy to foreign investors. If Obasanjo had insisted that MTN should list within 5 years of being licensed, the company would never have objected coz they too were desperate to invest in Nigeria.

Well done Sir. Better luck next time.

jideflash:
Oh boy it was an interesting experience. Unfortunately i came 4th out of 5 nominees in the election of Audit committee members, with the top three selected.
Nothing really new were disclosed today at the AGM even though some strong questions were asked by some Shareholders.
About the Caverton / Osibanjo incident, the Chairman said they cant discuss on the matter as AIB is still investigating. I believe this accident report will be a determiner on Insurance claim or maintenance cost.

Then, there was abit of unruly behavior by hungry shareholders who were majority in attendance, over the sharing of Gift bags. There was so much shouting and pushing, at a time it was like a stampede sef. I totally agree with SEC on the ban of Gift sharing at AGMs. This gifts only attract shameless fellows who careless about the company (as they dont own tangible units of shares) and neither do they contribute meaningful questions and suggestions. They want the AGM end so fast (without grilling the management and board), so they can get the gifts and go to the next event.

Na so one of them come meet me, said; sorry i didnt win the vote, but i should buy him recharge card, and whenever i want to run again, he will help me organise people to vote for me at a fee. He also said he came from Ondo for the AGMs. So basically, it has turn to some Inec vote buying thing.

jideflash:
Oh boy it was an interesting experience.

Na so one of them come meet me, said; sorry i didnt win the vote, but i should buy him recharge card, and whenever i want to run again, he will help me organise people to vote for me at a fee. He also said he came from Ondo for the AGMs. So basically, it has turn to some Inec vote buying thing.

I agree with you on the gift sharing. That is why company management can get away with anything because nobody is going to grill them during AGMs. Most of those there dey eye gift pack.

jideflash:
Oh boy it was an interesting experience. Unfortunately i came 4th out of 5 nominees in the election of Audit committee members, with the top three selected.
Nothing really new were disclosed today at the AGM even though some strong questions were asked by some Shareholders.
About the Caverton / Osibanjo incident, the Chairman said they cant discuss on the matter as AIB is still investigating. I believe this accident report will be a determiner on Insurance claim or maintenance cost.

Then, there was abit of unruly behavior by hungry shareholders who were majority in attendance, over the sharing of Gift bags. There was so much shouting and pushing, at a time it was like a stampede sef. I totally agree with SEC on the ban of Gift sharing at AGMs. This gifts only attract shameless fellows who careless about the company (as they dont own tangible units of shares) and neither do they contribute meaningful questions and suggestions. They want the AGM end so fast (without grilling the management and board), so they can get the gifts and go to the next event.

Na so one of them come meet me, said; sorry i didnt win the vote, but i should buy him recharge card, and whenever i want to run again, he will help me organise people to vote for me at a fee. He also said he came from Ondo for the AGMs. So basically, it has turn to some Inec vote buying thing.

This country en! We can never change @ bolded.

Thanks for the summary boss, deeply appreciated.

Also, all the best next time.

tritritri:


IF NOT FOR MTNN ALL INDEX FOR DEY 25K..

I concur with you

I don't know why we are worried about MTN, I can tell you to a large extent people in this forum determine how certain stocks play out on the NSE. Let them raise it tomorrow by 10% and if we ignore them, they have no choice than to sell to themselves...

If we all ignore they cannot win this war... Notore is a case in point. Ignore them they will bring it back to where it should be.

stcool:
I don't know why we are worried about MTN, I can tell you to a large extent people in this forum determine how certain stocks play out on the NSE. Let them raise it tomorrow by 10% and if we ignore them, they have no choice than to sell to themselves...

If we all ignore they cannot win this war... Notore is a case in point. Ignore them they will bring it back to where it should be.

Finito! you nailed it. If the so called MTN is ignored by people then they will do the needful

MTN Nigeria’s Listing by Introduction: What the True Picture is... By afriinvest



On the 16th May 2019, we saw the long-awaited listing of MTN Nigeria Plc (“the Company” or “MTNN”) on the Nigerian Stock Exchange (NSE). Although the market had expected an Initial Public Offering (IPO), the Company opted for a listing by introduction. This means that the company is not looking to issue new shares nor seeking to relinquish some of the existing shares of its majority shareholder (MTN International Limited) to raise equity capital in the immediate term, but existing shareholders are now provided with the opportunity to sell to the public. MTNN listed 20.4 billion shares at N90.0 per share, which translates to a market capitalisation of N1.8tn and implied price to earnings multiple of 9.5x using annualised Q1:2019 earnings, relative to the pricing multiples in Ghana (10.0x), Mauritius (30.3x), and South Africa (30.0x). This makes MTNN the second largest company listed on the Nigerian Stock Exchange (NSE) after Dangote Cement, accounting for 17.3% of total market capitalisation on the day of listing and 18.9% after three trading days.

Issues with the Listing
The illiquidity of MTNN shares on the exchange is a major concern as retail investors have not had the opportunity to make purchases. We believe this is partly connected to the cheap valuation of the company at the point of listing. Using annualised Q1:2019 EBITDA, the company’s EV/EBITDA at listing was 3.4x compared with 4.9x and 5.4x for African and emerging market peers. Hence, demand has considerably outpaced supply, as existing shareholders are unwilling to sell at the listing price. This is further buttressed by off-market trades of about 25.0 million shares at N125.00 per share, which was at a 38.9% premium to the listing price of N90.0 per share. Using the EV/EBITDA multiple for comparable countries would suggest significant room for price appreciation, showing that liquidity would remain tight in the immediate term. Our valuation of MTNN is currently being finalised with the report due for publication later this week.

MTNN’s Listing Price
In our discussion with management, we discovered that the N90.0 listing price was arrived at using the average trading price of linked units at the OTC market over 180 days. We also obtained information that MTNN’s shareholder loan of US$402m was converted to cumulative preference shares linked to ordinary shares in 2008. However, prior to the listing on NSE, the shares were delinked, and the ordinary shares were subdivided into 50 shares at 2 kobo per share from N1.0 per share. There are plans to redeem the preference shares worth N144.7bn (US$402.0m).

Volatile, Uncertain, Complex and Ambiguous (V.A.C.U) Regulatory Environment
Since 2015, MTNN’s relationship with its primary regulator, the Nigerian Communications Commission, has been fractious. The company was fined N1.0tn (US$5.2bn) in 2015 for not disconnecting unregistered sim cards. This was later reduced to N333.0bn spread over four years, with the condition to list its shares publicly by 2019. The final tranche of N55.0bn is due this May according to Management and the listing of shares has been concluded.
In 2018, two incidents heightened risk in the regulatory environment which also stalled the scheduled-to-be-completed IPO. There was a CBN’s case relating to incomplete Certificate of Capital Importation (CCI) obtained for the repatriation of dividends; this was later settled before the end of 2018. The elephant in the room is now the case with the Attorney General’s office, which has fined the company US$2.0bn in relation to taxes on the importation of equipment and payments to suppliers. In our discussion with management, we got the feeling that the uncertainty attached to the fine is part of the reason for MTNN’s cheap valuation at listing and why the IPO is on hold. If the fine should crystallise, it would significantly affect earnings and in turn the valuation of the firm. Management also informed us that the MTN Group intends to sell down its stake to 65.0% from the current 80.0%, which should result in improved liquidity.

BMZK:
The more you look the less you see....
https://twitter.com/nsenigeria/status/1130605264032473090

NSE just confirmed my theory about MTN in the second and third twitt.

There probably no shares available for sale and current shareholders aren't selling.

The price will continue to rise until IPO.

rebekah2011:
Why are we so fixated in the success story of MTNN? When are the others going to list? Airtel, Glo, and 9Mobile. We should remember that Mtel also started when MTNN and Econet were both given licenses. I know that no one will be interested in buying Glo because no one can be sure of what he/she is buying. Let us as a Country be interested in encouraging FDIs whilst we tighten all loose ends by ensuring that businesses
that comes here are appropriately taxed according to our laws and regulations.

Thank you my brother.
People are talking about mtn because of their success story. The truth is everyone wants to be part of this good business and they now want sec to change the rule so that they can get in.

At the right time, the shares will be available, anyone who desperately wants to buy mtn should just exercise patient.

jideflash:
Oh boy it was an interesting experience. Unfortunately i came 4th out of 5 nominees in the election of Audit committee members, with the top three selected.
Nothing really new were disclosed today at the AGM even though some strong questions were asked by some Shareholders.
About the Caverton / Osibanjo incident, the Chairman said they cant discuss on the matter as AIB is still investigating. I believe this accident report will be a determiner on Insurance claim or maintenance cost.

Then, there was abit of unruly behavior by hungry shareholders who were majority in attendance, over the sharing of Gift bags. There was so much shouting and pushing, at a time it was like a stampede sef. I totally agree with SEC on the ban of Gift sharing at AGMs. This gifts only attract shameless fellows who careless about the company (as they dont own tangible units of shares) and neither do they contribute meaningful questions and suggestions. They want the AGM end so fast (without grilling the management and board), so they can get the gifts and go to the next event.

Na so one of them come meet me, said; sorry i didnt win the vote, but i should buy him recharge card, and whenever i want to run again, he will help me organise people to vote for me at a fee. He also said he came from Ondo for the AGMs. So basically, it has turn to some Inec vote buying thing.

What is his headache about your possible desire to run for the post again? Does he himself forbid running for the post? So he doesn't care what your antecedents are but will just support you as long as you buy him recharge card and are ready to pay his recruits as well? People like him are the problem of this country. Such a person would easily accept N5,000 from a politician to go and snatch ballot boxes at gun point. This is one of the most major reasons why shareholders associations don't appeal to me. It is not about principles and the genuine pursuit of the shareholders' general interest at all.

Godlylifeoneart:


MTN Nigeria’s Listing by Introduction: What the True Picture is... By afriinvest



On the 16th May 2019, we saw the long-awaited listing of MTN Nigeria Plc (“the Company” or “MTNN”) on the Nigerian Stock Exchange (NSE). Although the market had expected an Initial Public Offering (IPO), the Company opted for a listing by introduction. This means that the company is not looking to issue new shares nor seeking to relinquish some of the existing shares of its majority shareholder (MTN International Limited) to raise equity capital in the immediate term, but existing shareholders are now provided with the opportunity to sell to the public. MTNN listed 20.4 billion shares at N90.0 per share, which translates to a market capitalisation of N1.8tn and implied price to earnings multiple of 9.5x using annualised Q1:2019 earnings, relative to the pricing multiples in Ghana (10.0x), Mauritius (30.3x), and South Africa (30.0x). This makes MTNN the second largest company listed on the Nigerian Stock Exchange (NSE) after Dangote Cement, accounting for 17.3% of total market capitalisation on the day of listing and 18.9% after three trading days.

Issues with the Listing
The illiquidity of MTNN shares on the exchange is a major concern as retail investors have not had the opportunity to make purchases. We believe this is partly connected to the cheap valuation of the company at the point of listing. Using annualised Q1:2019 EBITDA, the company’s EV/EBITDA at listing was 3.4x compared with 4.9x and 5.4x for African and emerging market peers. Hence, demand has considerably outpaced supply, as existing shareholders are unwilling to sell at the listing price. This is further buttressed by off-market trades of about 25.0 million shares at N125.00 per share, which was at a 38.9% premium to the listing price of N90.0 per share. Using the EV/EBITDA multiple for comparable countries would suggest significant room for price appreciation, showing that liquidity would remain tight in the immediate term. Our valuation of MTNN is currently being finalised with the report due for publication later this week.

MTNN’s Listing Price
In our discussion with management, we discovered that the N90.0 listing price was arrived at using the average trading price of linked units at the OTC market over 180 days. We also obtained information that MTNN’s shareholder loan of US$402m was converted to cumulative preference shares linked to ordinary shares in 2008. However, prior to the listing on NSE, the shares were delinked, and the ordinary shares were subdivided into 50 shares at 2 kobo per share from N1.0 per share. There are plans to redeem the preference shares worth N144.7bn (US$402.0m).

Volatile, Uncertain, Complex and Ambiguous (V.A.C.U) Regulatory Environment
Since 2015, MTNN’s relationship with its primary regulator, the Nigerian Communications Commission, has been fractious. The company was fined N1.0tn (US$5.2bn) in 2015 for not disconnecting unregistered sim cards. This was later reduced to N333.0bn spread over four years, with the condition to list its shares publicly by 2019. The final tranche of N55.0bn is due this May according to Management and the listing of shares has been concluded.
In 2018, two incidents heightened risk in the regulatory environment which also stalled the scheduled-to-be-completed IPO. There was a CBN’s case relating to incomplete Certificate of Capital Importation (CCI) obtained for the repatriation of dividends; this was later settled before the end of 2018. The elephant in the room is now the case with the Attorney General’s office, which has fined the company US$2.0bn in relation to taxes on the importation of equipment and payments to suppliers. In our discussion with management, we got the feeling that the uncertainty attached to the fine is part of the reason for MTNN’s cheap valuation at listing and why the IPO is on hold. If the fine should crystallise, it would significantly affect earnings and in turn the valuation of the firm. Management also informed us that the MTN Group intends to sell down its stake to 65.0% from the current 80.0%, which should result in improved liquidity.

Anyone buying MTN above today's closing price is on a long thing... I don't care what analyst say going forward. It's time for them to dump it on the masses

Few days after it's listing, MTNN, the most liquid and hottest stock of the moment approached a bank to finance its operation and expansions with 200 billion Naira.
The plan of MTN was to use the masses money aka OPP rather than use her liquid stock to archive the plan. Remember, the banks will charge interest on the loans.
Why did MTN Nigeria opt for loans?
The answer is known to them only.
Assuming, sales of just 2.5bil units at N90
The company would have raised more than enough.
The implications of this is that the MTN shareholders are protecting their investment unt il the stock reaches maximum valuation, let's say $1 or 360,at this time, the holders would have milked lot of optimistic Nigerians.
After accumulating assets and liabilities of 1
, The company will now float a public offer and use the masses funds to finance her operations again.
This is the peak of the game.
Investors will now be back to square 1.
MTN is just a dangerous company and their lifetime ambition is to use the masses money to make more money.
They invested $288 million in 2004 and they have repatriated over $10 B since inception.
Indeed, MTNN is the alternative CBN that print. average of $1B yearly for her South African shareholders that invested the initial seeds of $288M

@Godlylifeoneart,
Pls note that MTN, the company does not own its own shares so they cannot sell 2.5b units of shares to raise money for operations!!!!!. the shareholders are the one's not selling shares and even if they sell, not a penny goes to MTN

walcolm:
@Godlylifeoneart,
Pls note that MTN, the company does not own its own shares so they cannot sell 2.5b units of shares to raise money for operations!!!!!. the shareholders are the one's not selling shares and even if they sell, not a penny goes to MTN

Oh! Caverton dividend, just landed ... so soon.

This is unlike united securities.