MTN picks Chapel Hill Denham for Nigerian IPO

South Africa’s MTN Group said it has appointed Chapel Hill Denham as its issuing house for its $500 million Nigerian initial public offering, IPO.

The South African company is planning to list its local unit, MTN Nigeria on the Nigerian Stock Exchange in an IPO that will make the company the only mobile carrier to be listed on the exchange after the exit of Starcomms.

According to sources who spoke to Reuters News, South Africa’s Rand Merchant Bank, Renaissance Capital and Vetiva Capital were picked as joint issuers. The telecoms firm also appointed seven placement agents that would help market the offering