SENS Note - 28 July 2016
MTN - MTN Nigeria announcement
 
On 10 June 2016, MTN Nigeria announced that, as part of a settlement arrangement with the Federal Government of Nigeria, it would undertake to take immediate steps to ensure the listing of its shares on The Nigerian Stock Exchange (The NSE) as soon as commercially and legally possible.

MTN Nigeria is pleased to announce that its Board of Directors has resolved to proceed with preparations for a listing of MTN Nigeria on The NSE as soon as commercially and legally possible and has established a management task team with the responsibility to guide the company towards a listing. At present, MTN Nigeria is targeting that the listing takes place during 2017, subject to suitable market conditions.

MTN Nigeria is further pleased to announce that it has appointed Stanbic IBTC Capital Ltd. (together with its affiliates, The Standard Bank of South Africa Ltd. and Standard Advisory London Ltd.) (collectively "Stanbic") and Citigroup Global Markets Ltd. ("Citi") as its Joint Transaction Advisors and Joint Global Coordinators with Stanbic acting as Lead Issuing House. A full syndicate including Nigerian receiving agents, Nigerian receiving banks and other advisers would be appointed in due course, as appropriate.

The proposed listing would be subject to suitable market circumstances and conditions and the appropriate approvals from relevant regulators and other stakeholders. This press release does not constitute an announcement of an intention to float MTN Nigeria. MTN Nigeria will make further announcements at appropriate intervals on progress in this regard.
 
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