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SEC approves MTN listing on NSE

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MTN subscribers increase to 225.4m amidst sanctions

The Securities and Exchange Commission (SEC) has approved the application by MTN Nigeria to list on the Nigerian Stock Exchange (NSE) by way of introduction.

The company had last week written a letter of application to SEC to register their existing securities.

MTN also on Tuesday announced the successful registration of its 20,354,513,050 ordinary shares of N0.02 each with the SEC.

In a statement on Wednesday through Efe Ebelo, the Head, Corporate Communication of NSE, Acting Director General of SEC, Ms. Mary Uduk, said, ‘’ That approval has now been granted.’’

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“MTN sought to come to the market by way of an introduction and they wrote to the SEC last week requesting for approval to register its existing shares. That approval has now been granted.’’

The statement stated that the record approval is a further indication of the determination by SEC to work with companies that are interested in the capital market.

“We believe that this will also encourage other service providers to come to the market” it said.

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