MTN appoints Citigroup and Standard Bank to list on Nigerian Stock Exchange

MTN appoints Citigroup and Standard Bank to list on Nigerian Stock Exchange

MTN has appointed  Citigroup and Standard Bank  as advisers on a planned listing in the Nigerian local stock exchange. This is largely to fulfill part of the deal to settle a record fine.

Africa’s biggest mobile-phone operator is targeting a listing of the Nigeria unit in 2017, “subject to suitable market conditions,” the Johannesburg-based company said in a statement on Thursday. Stanbic IBTC Capital, the Nigerian arm of Johannesburg-based Standard Bank, will be the lead issuing house, while a full syndicate including Nigerian parties will be appointed in due course.

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