Jamie McKane
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MTN considers scrapping its Nigerian IPO
MTN Group Ltd., the wireless carrier facing a combined $10 billion in claims from Nigerian authorities, said it may no longer seek to raise capital through an initial public offering on the country’s stock exchange.
Africa’s largest mobile-phone company is considering other options of trading its shares on the Lagos-based bourse, including a so-called listing by introduction, in which existing shares are listed, Chief Financial Officer Ralph Mupita said in an interview in Johannesburg.
[Bloomberg]
MTN Group Ltd., the wireless carrier facing a combined $10 billion in claims from Nigerian authorities, said it may no longer seek to raise capital through an initial public offering on the country’s stock exchange.
Africa’s largest mobile-phone company is considering other options of trading its shares on the Lagos-based bourse, including a so-called listing by introduction, in which existing shares are listed, Chief Financial Officer Ralph Mupita said in an interview in Johannesburg.
[Bloomberg]