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Chinwendu Obienyi
The Securities and Exchange Commission (SEC), has said that it is yet to receive any formal application from MTN as regards the telecom company’s intention to list its shares on the Nigerian Stock Exchange (NSE). MTN had earlier indicated its intention to list by introduction on the NSE by June 2019, subject to market conditions, appetite and demand. Speaking during the 1st quarter Capital Market Committee (CMC) meeting held in Lagos at the weekend, acting Director-General, SEC, Mary Uduk, confirmed to newsmen that the telecom company is yet to file any formal application, adding that the commission is in constant engagement with MTN.
“They have not filed any formal application with us. I know that MTN has had issues with the Nigerian government and they have been trying to sort that out and they have sorted one part of the issue but the other part has not yet been sorted out. Because they are committed to coming to the market, they have decided to come into the market via listing by introduction and I know that they are working hard towards that because they had visited the commission to explain and assured us that after the listing by introduction, once they are able to sort other issue that is yet to be resolved with the government, then they can now begin formal engagement with the commission”, she explained.
Responding to questions on the state of e-dividend registration, acting Executive Commissioner, Corporate Services, SEC, Henry Rowlands, stated that about 2.7 million investors have now mandated their accounts.
According to him, the commission observed that after it halted bankrolling the free registration exercise, the level of mandates from investors stopped.
