MTN Nigeria: Initial Public Offering Teaser

May 31, 2018/Cordros Report

Executive Summary

Last year, the MTN Group announced that its Nigerian business will be listed on the Nigerian Stock Exchange this year, by way of Initial Public Offering (IPO).

Significant progress has been recorded vis-à-vis the IPO, which is expected to be concluded next month.

We establish a compelling investment case for MTNN, considering the Company’s impressive track record which is supported by scaled market position and the first-mover advantage. Beyond that, it is difficult to ignore the telco’s new growth initiatives- to be implemented by a sound management team-which could potientially propel earnings to new heights over the medium term.

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