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Successful listing of Airtel on NSE will deepen market – expert

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An economist, Mr Godwin Anono, has said that the successful listing of Airtel Communication on the Nigerian Stock Exchange (NSE) would deepen the capital market and boost the nation’s economy.

Anono, who is the President, Standard Shareholders Association of Nigeria, made this observation in an interview with the News Agency of Nigeria (NAN) on Thursday in Lagos.

“The action is commendable as it will encourage other big corporates to be listed in the market and expand within little or no time.

“The decision will enable Nigerians to have shares in the company, thereby giving them sense of ownership in the corporation,’’ the economist said.

Anono said that the successful listing of air telecommunication was imperative, saying it would further deepen the market and spur growth in the economy.

“The gain behind the listing of the telecommunication firms is unbelievable.

“With the completion of such investment decision, the firm will be able to raise funds within limited time for it expansion,’’ he said.

Anono said that the idea behind the proposed listing was good for the economy, noting that the gesture would encourage other firms to venture into the Nigeria’s capital market.

NAN reports that the Airtel Nigeria has officially filed an application with the Securities and Exchange Commission (SEC) for the listing of its shares on the NSE.

It was gathered from top sources at the commission on Tuesday that the telecom company’s application was filed two weeks ago.

NAN learnt that SEC is currently examining the application in line with its rules and regulations.

A source said that SEC would continue to protect the interest of investors in the market in line with its mandate to regulate and develop Nigeria’s capital market.

The source said that the application would be given express consideration if the company met all the requirements for listing on the nation’s bourse.

The parent company of the telcom firm, Bharti Airtel, in its filing on London on Monday, said that it intended to list the shares on the NSE at the same time with the listing of its Africa unit at the London Stock Exchange. (NAN)

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