Africa's biggest mobile phone operator MTN
Group said on Thursday its Nigeria unit is on track to list on the Nigerian
Stock Exchange (NSE) in 2017 as part of an agreement with the Federal
Government.
MTN had said in June its local unit would
list on the NSE after agreeing to pay a reduced fine of $1.7 billion in a
settlement with the Nigerian government of a long-running dispute over
unregistered SIM cards.
MTN Nigeria aims for the listing to take
place during 2017, subject to market conditions.
MTN is the largest mobile phone operator in
Nigeria with 57 million subscribers, and the country accounts for about a third
of its revenue.
MTN Nigeria appointed Stanbic IBTC Capital ,
Standard Bank of South Africa and Standard Advisory London, and Citigroup Global
Markets, as joint transaction advisors and global coordinators, with Stanbic
acting as lead issuer.
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