Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

MTN Ghana listing sparks activities on the Ghanaian Stock Exchange 

Onome OhwovoriolebyOnome Ohwovoriole
4 years ago
in Business News, Company News, Spotlight
MTN Group Chairman Phuthuma Nhleko, MTN responds to Board change rumours, Bloomberg report, Public Investment Corporation, Funso Aina, MTN, Public Investment Corporation

MTN Logo

Share on FacebookShare on TwitterShare on Linkedin

Activities on the Ghanaian Stock Exchange (GSE) may witness as an uptick soon as MTN Ghana shares began trading on the bourse yesterday. The firm is the first telco to be listed. It also broke records as the largest  Initial Public Offer on the exchange, and the first which investors subscribed for using mobile money.

Listing on the GSE was part of the conditions the company agreed to in 2015 when it obtained a 4G license.

Details of the offer

A total of 128,152 investors participated, comprising 127,653 retail investors and 499 institutional investors.

1.1 billion cedis was raised, much lower than anticipated but nearly three times larger than the 326 million cedis Agricultural Development Bank Limited (the biggest IPO on the GSE prior to MTN) raised in December 2016.

Uncertainty surrounds Nigerian listing  

While operators in the Ghanaian market are in a swell mood, the company’s recent troubles in Nigeria could lead to a delay of a planned Initial Public Offer (IPO) on the Nigerian Stock Exchange (NSE).

The company was this week slammed with a $2 billion back taxes by the Attorney General of the Federation (AGF) Abubakar Malami.

Prior to that, it had been ordered to return $8.1 billion that it had repatriated over the last ten years. The company has, however, restated its commitment to operating in Nigeria.

MTN Nigeria was fined $5.2 billion in 2015 by the Nigerian Communications Commission (NCC) for failing to disconnect unregistered subscribers after the stipulated deadline date.

After diplomatic intervention by the then South African President, Jacob Zuma, the fine was reduced to $1 billion, payable in tranches. In addition, MTN was required to list on the NSE and tender an apology to the Nigerian Government.

Related

Tags: Abubakar MalamiGhana Stock ExchangeMTN GhanaNigerian Stock Exchange

Leave a Reply Cancel reply

HFM
Mega Millions
Mega Millions
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • 3 reasons most Nigerians may ignore Starlink and stick with their mobile operators
  • Why Nigerians are obsessed with cash
  • Finance Minister says Federal Government is set to activate full potentials of mining sector

Follow us on social media:

Recent News

Starlink is now in Nigeria, but for only those earning dollars

3 reasons most Nigerians may ignore Starlink and stick with their mobile operators

February 6, 2023
Why Nigerians are obsessed with cash

Why Nigerians are obsessed with cash

February 6, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds

© 2023 Nairametrics