MTC’s listing process on NSX to officially commence in June
Mobile telecommunications firm, MTC, on Thursday announced that it has officially started its journey towards listing on the Namibian Stock Exchange (NSX).
According to statement released, MTC will become the first State Owned Enterprise to list on the NSX.
MTC’s spokesperson, Tim Ekandjo said the listing process will take approximately 15 months and will officially commence in June 2019.
“We expect to submit the listing application to the NSX in February 2020 and will announce the opening date for the public offer in March 2020. The public offer is expected to close in June 2020 and we anticipate being formally listed on the NSX by July 2020, depending on regulatory approvals,” he said.
Ekandjo said that the firm appointed IJG Securities and PSG Wealth Management Namibia as Sponsoring Brokers for the listing project.
MTC’s listing decision has been motivated to achieve greater operational efficiency, transparency, enhanced operational visibility and achieving liquidity, Ekandjo added.