Airtel Mulls Listing on NSE

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LAGOS, SEPTEMBER 1, 2016 – The Management of Airtel Networks Nigeria Limited has hinted at a possible listing of the company on the Nigerian Stock Exchange (NSE) in no distant time.According to Daily Trust, Segun Ogunsanya, managing director/CEO of Airtel, dropped the hint at NSE and Bloomberg CEO round table which took place in Lagos Yesterday.

When asked of the plans of the company to list at the exchange, Ogunsanya: “There are plans to look at every option. It is something we are going to consider. I am going to have some discussions with the president of the exchange on how and when we are going to do this and we will do what is best for the economy and the company at the right time”

None of the main four telecommunications companies-Globacom, Airtel, Etisalat and MTN Group Limited. (MTN), are listed on the Nigerian exchange. Only about 17 per cent of Nigeria’s economy is reflected on the market.

Only recently, MTN Nigeria announced its plans to list its shares on the Nigerian Stock Exchange in 2017, as part of the settlement arrangement with the federal government for failing to disconnect unregistered subscribers which saw its fine reduced from N1.4 trillion to N330 billion after a series of negotiations.

Ogunsanya also used the forum to call on president Muhammadu Buhari to consider the power of digital Nigeria to drive growth and inclusiveness in the country.

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