THE Securities and Exchange Commission (SEC) on Monday said that it was yet to be notified by the MTN Group on plans to raise about 500 million dollars from Nigeria’s capital market. A source who pleaded anonymity told the News Agency of Nigeria (NAN) in Lagos that the commission was yet to receive any application from MTN on Initial Public Offering (IPO). “As of today, we are yet to receive any application or notification from MTN on the proposed IPO,’’ he said. According to him, it will help to de-risk the Nigerian stock market from the dominance of a few companies in terms of market capitalisation such as Dangote Cement. “The more of such participation by firms with huge financial strength and reputation, the better for the growth of the stock market and the capital market generally,’’ Tella said.

Source: Nigerian Tribune February 13, 2018 08:26 UTC