MTN charged to clear regulatory issues before IPO

The Chartered Institute of Stockbrokers (CIS), has urged the telecom giant, MTN, to dispatch with all regulatory headwinds properly before coming to the stock market for public offering to Nigerians, to enable it list at optimal price favourable to the company and investors. A member of the CIS 2018 Conference Committee, Akeem Oyewale, gave the advice while fielding questions from journalists at a news conference to announce the forthcoming Stockbrokers’ 2018 Conference, slated for October 4 and 5, in Lagos.He noted that the parent company of MTN lost about 30 per cent within a two-week period in South Africa, following double sanctions slammed on the firm over allegations of illegally repatriating $8.13 billion, and $2 billion outstanding tax claim in Nigeria.He said: “MTN was listed in Ghana, they had plans to be listed this year in Nigeria, but we are all aware of the regulatory headwinds they have to contend with right now. If they do not address the headwinds properly, they will be listing at prices that may not be optimal for themselves and even for the investors that may be coming into the market. Read More