We'll list on NSE before July, says MTN in Nigeria revenue hits N965bn

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MTN Group says it will list Nigerian Stock Exchange (NSE) in the first half of 2019, after recording very positive trade numbers in 2018 fiscal year.

The South African rand (N965.3bn).

"MTN plans to list on the Nigerian Stock Exchange during the first half of 2019 and is looking to simplify the capital structure ahead of this listing," MTN said.

"The Company's listing on the Exchange will create a new telecoms asset class for investors and provide an opportunity for a wider group of Nigerians to participate in our investment story."

"This will be achieved through a market listing and will be followed by a conditional market. Over time, and subject to market conditions, we anticipate that the participation of Nigerians in the ownership of the business will increase from around 20% to 35%. "

MTN increased its mobile subscriber base in Nigeria by another six million people, bringing its tally to 58 million subscribers nationwide.

Ferdi Moolman CEO, MTN Nigeria said "In 2018 we rebuilt the base; adding another six million Nigerians to our network, giving a total of 58 million people access to worldwide communication services ".

"This growth was built on our sustained focus on customer centric delivery – ensuring that customers get much more value for their money.

"This includes the deployment of proactive interventions to improve customer experience, together with the enhancement of network quality and coverage, and the optimization of our services portfolio.

"We also enabled an additional 8 million people , of which 18.7 million uses more than five megabytes per month.

"We are now even more likely to access the benefits of a modern connected life. We are excited about continuing our role in this field, and are grateful to our customers, our people, our partners and our regulator for making this possible.

"We understand how to access the opportunities enabled by the internet to open up new industries in the remotest areas of our country.

"Thus, we will continue to focus on delivering social innovations like mobile electricity, financial services for all; and leveraging our technology to enable high-impact mobile solutions in education, health and agriculture in our communities – urban and rural. "

SNAPSHOT OF MTN NIGERIA RESULTS (2018)

  • Service revenue increased by 17.2%
  • Data revenue increased by 39.3%
  • Digital revenue decreased by 58.1%
  • Fintech revenue increased by 32.7%
  • EBITDA grew by 30.8% to NGN 453.1bn (excl CBN payment)
  • EBITDA margin increased by 4.5 to 43.6% (excl CBN payment)
  • Mobile subscribers increased by 6 million to 58 million

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