May 16, 2019 / 10:52 AM / in 2 months

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)

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