Telecommunications Firm: Company and Share Listing

telecommunications firm: They have applied for listing by introduction which will enable the company to be listed and allow shareholders sell their shares on the floor of the exchange, according to The Independent. Their application is presently receiving attention. In a statement signed by the spokesperson of the Commission, Efe Ebelo, made available to The Guardian, SEC said SEC can confirm that we are in receipt of an application from MTN requesting for registration of their existing securities. In line with the planned share listing, MTN, which controls 37.8 per cent of Nigeria's telecoms market and services 65.6 million customers, had a fortnight ago, had completed its conversion from a private company to a public company Plc . The telecommunications firm explained that the conversion is a legal requirement, and key milestone preparatory to its listing on the NSE, which it scheduled before second quarter of 2019. Speaking on the issue in a telephone chat with The Guardian, the President, Association of Telecommunications Companies of Nigeria ATCON Olusola Teniola, described it as a welcoming development for the economy. Listing on the NSE was one of the conditions reached in the resolution of a N330-billion fine placed on it by the Nigerian Communications Commission NCC for its inability to disconnect improperly registered SIM cards. (news.financializer.com). As reported in the news.