Tuesday 29th November 2016

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MTN Meets SEC on IPO, Seeks Concessions to Fast-track Listing Goddy Egene with agency report Nigeria’s biggest telecoms provider, MTN, has met with the Securities and Exchange Commission (SEC) to discuss a possible initial public offering

(IPO) of its shares on the Nigerian Stock Exchange (NSE) and how it wants to structure the share sale. According to Reuters, SEC Director General, Mounir Gwarzo, said MTN had discussed the possibility of

issuing various classes of shares to targeted investor groups. He said the telecoms firm was looking at three different classes which would be new in Nigeria. Gwarzo said the SEC was willing to support the share

sale as long as it was within local laws and advised the telecoms firm to ensure retail investors were protected. THISDAY checks further revealed that at the meeting, MTN also discussed the possibility of getting some

concessions that will speed up the listing. It was gathered that the joint financial advisers and issuing houses to MTN on the proposed IPO and listing – Standard Bank of South Africa Limited, Citigroup Global

Markets Limited and Stanbic IBTC – accompanied the management of the company to the meeting with SEC. “I can confirm to you that the management of the MTN Continued on page 6

Nigeria Loses 130m Barrels of Crude Oil to 32 Militant Groups This Year...

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Tuesday 29 November, 2016 Vol 21. No 7894. Price: N250

www.thisdaylive.com TR

TODAY'S WEATHER

ABUJA 16°C-33°C

MAIDUGURI 15°C-35°C

UT H

& RE A S O

ENUGU 22°C-34°C

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KANO 11°C-33°C

LAGOS 23C-31°C

PORT HARCOURT 20°C-30°C

Presidency: No Rift with Tinubu APC cash-strapped as Buhari, others withhold dues President refuses to replicate PDP’s mistake by using state resources

Tobi Soniyi and Onyebuchi Ezigbo in Abuja With the dust raised over the Ondo governorship election yet to settle down, President Buhari has dismissed the notion that he and the APC leadership are at odds with a National Leader of the party, Chief Bola Ahmed Tinubu, describing such rumours as unfounded and mischievous.

The president’s media aide, Malam Garba Shehu, in a statement yesterday said the president was highly embarrassed by such “suggestions”. He also said Buhari was in regular contact with Tinubu before, during and after the Ondo gubernatorial election. Shehu said any suggestions Continued on page 6

PDP Rejects Ondo Guber Poll Result, Heads for Tribunal

Sheriff faction warns of further losses in Ekiti, other states Onyebuchi Ezigbo in Abuja The Peoples Democratic Party (PDP) has rejected the result of Saturday’s gubernatorial election in Ondo State, in which the candidate of the All Progressives Congress (APC), Chief Rotimi Akeredolu (SAN), was declared the winner by the Independent National Electoral Commission (INEC). The national leadership of the party led by Senator Ahmed Makarfi said yesterday that it has instructed its

candidate and the Ondo State chapter of the PDP to proceed to the Election Petitions Tribunal to challenge the outcome of the election. In the Ondo governorship election, Akeredolu, the candidate of the APC, garnered 244,842 votes, the PDP candidate, Eyitayo Jegede (SAN), polled 150,380 votes, while the Alliance for Democracy (AD) candidate, Olusole Oke, got 126,889 votes. Continued on page 6

L-R: Executive Director, Asset Management Corporation of Nigeria (AMCON), Mr. Aminu Ismail; Managing Director/CEO, AMCON, Mr. Ahmed Kuru; and President of the Court of Appeal, Hon. Justice Zainab Bulkachuwa, at the end of an interactive conference, held in Abuja… recently


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