South Africa’s bourse operator, JSE Ltd, on Friday launched a investigation into the timing of the MTN Group’s announcement of a $5.2 billion fine imposed by Nigerian regulators on its unit in that country.
“The investigation will follow due process to establish whether there have been any breaches of the listings requirements and can be a lengthy process,” the head of the Johannesburg Stock Exchange’s regulatory division, Andre Visser, said in a statement.
Under South African capital markets rules, companies are required to immediately warn shareholders of any materially price-sensitive information.
