Nigeria lure fin-tech companies with IPO listing

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With 90 days remaining for the anticipated MTN Nigeria Initial Public Offering (IPO) at Lagos Stock Exchange.

The Nigerian bourse is said to lure local fin-tech companies to get listed on the country’s bourse.
At a gathering of the 9th annual Pan-Africa investor conference by Renaissance Capital yesterday, Wednesday 16 May 2018

Stakeholders revealed talks are on-going to lure Skyway Aviation Handling Company Limited (SAHCOL) and some Fintech companies to get them listed on the bourse.

The NSE said the move is part of the exchanges commitment towards deepening the Nigerian capital market by providing enough liquidity.

“Apart from the fact that we are working closely to see that the MTN Nigeria listing be successful, we have also started having some engagement with SAHCOL and a Fintech company to ensure that we bring the companies to the market,”Tinuade Awe, Executive Director at the NSE revealed.

“In our talk with a Fintech company which I am not at liberty to disclose the name at this time, we are creating something we call the growth board and the idea of this board is to have these kinds of companies that may not yet be where they need to be organisationally but we are working with them so they can be able to come to the market,” Awe added.

Last year, MTN group announced that its Nigerian unit will be listed on the Nigerian stock exchange following a compulsory fine that was slammed on telecoms giant.
The group said they have made good progress on the IPO processes in Nigeria, and they aim to conclude it in 2018.

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