Business
NSE Intensifies Plan To List Telecom Firms
The Chief Executive
Officer of Nigerian Stock Exchange (NSE), Mr Oscar Onyema has said the Exchange is gaining ground in trying to entice more companies to place initial public offer at the floor of the Exchange, especially the four big firms in the country’s telecommunication industry, namely MTN, Glo, Airtel and Etisalat
This he said would help to bouy up the Nigerian economy and also create opportunities for citizens to become part-owners of the companies.
The NSE boss in a chat with newsmen in Seoul, South Korea at the World Federation of Exchanges (WFE) said that the bourse is making progress in its bid to persuade the telecommunication companies to sell their shares.
Onyema noted that the issue had moved from the telecom companies not wanting to list to a stage where they are seeking how to deal with the issues that make history unattractive to them.
He said that the telecom industry was a major contributor to the Gross Domestic Product (GDP) and still none of the GSM companies is present on the bourse.
The Exchange boss noted that the companies had highlighted structural issues hindering their initial public offers adding that the bourse is working with the Federal Government to address the short coming.
According to the Nigerian Communitication Commission (NCC) the four companies had 177.5 million lines between them as at the end of August 2014.
Lilian Peters