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The naira on Thursday appreciated against dollar to close at N310.50 at the inter-bank market, fifty-one days after the Central bank of Nigeria introduced the flexible exchange rate policy, according to a data compiled by Bloomberg.
Meanwhile, the South African teleco, MTN Group, expects to raise about $1 billion from the listing of its shares on the Nigerian Stock Exchange, NSE.
MTN, according to Bloomberg, plans to sell a small portion of its Nigerian unit. The Johannesburg-based firm owns 78.8 percent of MTN Nigeria.
Other minority shareholders may reduce their holdings or exit entirely, people familiar with the matter said.
In addition, MTN has appointed Stanbic IBTC Capital, as the lead-issuing house on the planned listing.
Naira Watch: Tracking Nigeria's Currency [Day 50]
Wedsnesday Closed: 314.25
Today Open: N310.50
High Rate: N325.50
Low: N310.50
Recommended: First Nation Airlines Shuts Down Operations
Meanwhile, the South African teleco, MTN Group, expects to raise about $1 billion from the listing of its shares on the Nigerian Stock Exchange, NSE.
MTN, according to Bloomberg, plans to sell a small portion of its Nigerian unit. The Johannesburg-based firm owns 78.8 percent of MTN Nigeria.
Other minority shareholders may reduce their holdings or exit entirely, people familiar with the matter said.
In addition, MTN has appointed Stanbic IBTC Capital, as the lead-issuing house on the planned listing.
Naira Watch: Tracking Nigeria's Currency [Day 50]
Wedsnesday Closed: 314.25
Today Open: N310.50
High Rate: N325.50
Low: N310.50
Recommended: First Nation Airlines Shuts Down Operations
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