Last Thursday’s listing of MTN Nigeria shares has revealed the real 11 owners of MTN Nigeria and the Federal Government of Nigeria is not among them.
The real owners have the entire 20,354,513,050 ordinary shares of the company valued at about N407.1 billion as at the time MTN applied to be listed.
The Nigerian Stock Exchange, NSE, has made it possible to identify the shareholders of the telecoms firm.
Many Nigerians believed the Nigerian government owned part of the South African firm through an unspecified equity holding by the Nigeria Sovereign Investment Authority, NSIA.
But a review of the listing memorandum filed by MTN Nigeria in support of its application for the enlistment of its shares on the NSE revealed the profiles of the shareholders of the company.
The list did not include either the Nigerian government or the NSIA.
PREMIUM TIMES learnt that the NSIA investment “is very small” and could not have been listed among those of the big players.