MTN NIGERIA Listing: Let's do the DANCE; the DRAMA will have to wait.
Dear Africa interested professionals: MTN Nigeria finally listed 20.4 billion shares on the Nigerian Stock Exchange (NSE) (after being compelled to do so by the Nigerian government as part of a regulatory settlement) at a price of N 90.00 ($0.25) on May 16, 2019 . The listing was part of the punitive measures taken by Nigeria's telecom regulator in the second half of 2015 due to the refusal of MTN Nigeria to fully comply with its directive to deactivate unregistered sim cards. Despite the involuntary nature of the listing, the Nigerian Stock Exchange is celebrating the listing as a positive and immediately added MTN Nigeria to its Premium Board. Developments since listing of MTN Nigeria's shares less than two weeks ago have been anything but positive. Let me kick off with trading related issues. 1. MTN Nigeria refused to do an Initial Public Offer (IPO) and instead opted for Listing by Introduction . All this does is alienate and frustrate in