Was MTN listing fraudulent?

In Business 2019-06-07 10:47:35
Was MTN listing fraudulent?
Was MTN listing fraudulent?

 

On the 16th of May, 2019, Telecommunications giant MTN, joined the exchange by introduction, listing a total of 20, 354,513,050 at N90 per share, after meeting all Regulatory requirements from both the NSE and the securities and exchange commission.

 

The listing by introduction meant no new shares were created and what was available for sale, were only shares existing owners were willing to sell. This, met with an unprecedented amount of demand, saw the company value jump 10% each day for its first few days on the market.

Anchor: Tunji Andrews