MTN to boost stock market liquidity by N375bn The Punch
Published 6 July 2021
The move by the MTN Group to offer 14 per cent of its 78.8 per cent sshares in MTN Nigeria to Nigerians will boost its stock market liquidity by N375bn, analysis of data has shown.
The company recently said through its Group President and Chief Executive Officer, Ralph Mupita, that the group planned to sell14 per cent of MTN Nigeria to Nigerian investors.
Mupita had said, “MTN Nigeria, in which MTN Group has a 78.8 per cent stake, sought to have the largest retail shareholder base on the Nigerian Stock Exchange, where it has a market capitalisation of N3.4tn ($8.2bn).”
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Stakeholders in the telecommunication sector have commended the Anambra State government for the decision of the Governor, Chief Willie Obiano to waive the right of way charges for telecommunication companies.
The National Economic Council had last year pegged the RoW charge at N145 per linear meter, but Obiano responding to this announced a zero charge for installation of telecommunications fibres.
Stakeholders in the sector, including representatives of Association of Telecommunication Companies of Nigeria (ATCON), Association of Licensed Telecom Operators of Nigeria (ALTON), International Internet advocacy group, Alliance for Affordable Internet (A4AI) who attended the conference spoke in commendation of Anambra State government during a broadband stakeholders’ conference in the state.
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