NSE Listing Reveals Real Owners Of MTN Nigeria (See List)

MTN Nigeria’s listing on the Nigerian Stock Exchange (NSE) on Saturday revealed the shareholders in the Nigerian unit of Africa’s largest mobile phone company, MTN Group Limited.

MTN Nigeria, which boasts over 67 million customers according to the Nigerian Communications Commission (NCC), listed on the NSE without an IPO. The firm listed its existing shareholders’ equity on the Nigerian stock market.

1.      MTN International Limited (Mauritius)

The listing memorandum of the telecoms firm show that 11 companies own different proportions of shares, with MTN International Limited (Mauritius), maintaining the controlling shares of 15,485,544,050 (76.08% equity) which is valued at N309.71 billion.

2.    Stanbic IBTC Asset Management Limited

The investment management firm emerged as the second majority shareholder in the company with 1,988,269,050 shares (9.77%) and valued at N39.77 billion.

3.     Mobile Telephone Network N.I.C.B.V

The company holds 559,720,150 (2.75%) and is valued at N11.19 billion.

4.    Government Employees Pension Fund (Public Investment Corporation SOC Limited)

The pension fund which manages pensions for government employees in South Africa holds 355,281,650 units (1.75%) and valued at about N7.11 billion.

The telecoms firm’s listing also showed that six Nigerians are non-executive directors on the NSE premium board.

5.     Victor Odili (Hermitage Overseas Corporation)

Victor Odili, who is the Chairman and Executive Director of Aeromaritime Group, is MTN Nigeria’s largest individual shareholder with 806,886,900shares (3.96%). His stake in the telecoms firm is valued at N16.14 billion.

6. Pascal Dozie (Celtelecom Investment Limited)

Pascal Dozie is the founder of the defunct Diamond Bank which recently merged with Access Bank. He owns 340,409,900 shares (1.67%) valued at N6.67 billion.

7.    Sani Mohammed Bello (One Africa Investment Limited)

Sani Bello is a co-founder of Amni International Petroleum Development Co., a Nigerian oil exploration company. He holds 265,092,150 shares (1.30%) valued at N5.3 billion.

8.     Babatunde Folawiyo (Universal Communications Ltd)

Tunde Folawiyo is the managing director of the Yinka Folawiyo Group, a conglomerate with interests in energy, agriculture, shipping, and he holds 218,815,100 shares (1.07%) in MTN Nigeria. His stake is valued at N4.01 billion.

9.    Gbenga Oyebode (N-Cell Limited)

The renowned commercial lawyer is the founder and Managing Partner of Aluko & Oyebode. He holds 181,776,250 shares (0.89%) valued at N3.27 billion.

10.     Ahmed Dasuki (SASPV Limited and NISPV Limited)

The founder of Quaditect Consultants and the Chairman of Drill Masters Africa. He owns 177,717,850 shares (0.75) in MTN Nigeria through NISPV Limited/ SASPV Limited. His stake in the telecoms firm is valued at about N2.89 billion.