MTN:  10,051   -96 (-0.95%)  24/08/2019 00:00

MTN Group sees local ownership of MTN Nigeria at 35% post-IPO -investors

ABUJA, May 16 (Reuters) - South Africa's MTN Group sees local ownership of MTN Nigeria <IPO-MTNN.LG> at 35% from around 20% after a public offering, MTN Group Chief Financial Officer Ralph Mupita told investors in Lagos on Thursday, according to two of those investors.

MTN plans to proceed with its public offering following a listing in Africa's biggest economy on Thursday and after it has resolved a $2 billion tax dispute with Nigeria's attorney general.

Two investors that attended Thursday's pre-listing meeting said MTN Group presented an investment case for the $6 billion MTN Nigeria float on the Nigerian bourse. (Reporting by Chijioke Ohuocha; writing by Paul Carsten; editing by Jason Neely)

First Published: 2019-05-16 12:27:22
Updated 2019-05-16 12:49:18

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