MTN will list on the Nigerian Stock Exchange—but not through an anticipated IPO

South Africa’s MTN is one step closer to listing publicly in Nigeria—but it won’t be doing so via an initial public offering (IPO). Africa’s largest telecoms operator has converted its Nigerian business to a public company before a listing by introduction on the Nigerian exchange, rather than an launching IPO as previously expected. Unlike with an IPO, a listing by introduction will see MTN list already existing shares without raising new funding or issuing new shares.