Nairametrics was live on the floor of the Nigerian Stock Exchange, covering the listing of MTN Nigeria. The listing was done by introduction.
MTN Nigeria was listed on the NSE’s Premium Board which is designated for an elite group of issuers and industry leaders.
Earlier in his speech, the Chief Executive Officer of the Nigerian Stock Exchange, Mr Oscar Onyema, said;
“Today’s listing is as a result of hard work by all parties involved. It will increase the visibility of MTN Nigeria. We wish MTN Nigeria great success, and urge the company to remain transparent in its dealings.”
Nairametrics obtained the Facts Behind Listing. See the details below;
- MTN holds No1 and No2 position in 21 countries across Africa & the Middle-East
- MTN has the largest market share in 14 countries.
- MTN has 237 million subscribers
- The company boast of 81 million active data users
- MTN also has 28 million active mobile money customers
- It is the largest mobile operator in Nigeria with 60.3 million subscribers
- 20.4 million active data users in Nigeria
- MTN Nigeria has 50% market share by revenue
- It has the largest fibre network coverage >25,800km
- The workforce of MTN Nigeria is comprised of 90% Nigerians, 1% others
The company’s range of innovative products & services include:
- Digital
- Consumer
- Enterprise
- Financial services
Growth drivers for MTN Nigeria are:
- Voice revenue for MTN Nigeria is 12.7% plus: MTN Nigeria disclosed that while voice revenue declines in other countries (not mentioned), it is growing in Nigeria.
- Data revenue is 31.5% plus
- Data traffic is 56.6% plus
Why MTN decided to list:
- To create accesss for the public to participate in the ownership of MTN
- To contribute to growth of the NSE
- To further establish brand leadership and legacy by becoming the first Mobile Network Operator to list on the NSE
What does Nigeria have to offer?
- Largest economy in Africa
- Largest telecoms market in Africa
- Demographics that drive revenue
- About 99.6 million bankable adults with 36.9 million unbanked
- Fast-growing youth population
- Low data, Fintech and digital penetration.
- Limited traditional banks footprint in rural areas
- Underserved large SME market
- Growing demand for data
- Pricing flexibility
- Increased level of awareness
- Increasing data adoption
- OTT service gap
- Relevant local content availability
When is MTN’s IPO? The company does not have a fixed date for the Initial Public Offering yet, as it is not looking to raise funds for now.
Condition for IPO: MTN Nigeria said the market condition and reason for raising capital will determine the date for IPO.
MTN Nigeria challenges market rivals: The company has challenged other telecommunication companies; Airtel Nigeria, Globacom, and 9mobile, to follow in its footstep by trading on the stock exchange.
Why Nigerians prefer MTN: According to the Chief Executive Officer of MTN Nigeria, Fredi Moolman, the love Nigerians have for the network operator is not dwindling, as most now prefer MTN Nigeria because it’s the only better option. He says the company is working on building a stronger relationship with its customers to earn the affection again.
Recall that Nairametrics earlier reported that the listing places MTN Nigeria among the Trillion Naira Club (NTC) which consists of Dangote Cement Plc, Guaranty Trust Bank (GTBank), and Nestle Plc.
Earlier on Thursday, May 16, MTN Nigeria listed a total of 20,354,513,050 shares at N90 per share.