• The owners of MTN Nigeria revealed.
  • MTN Nigeria's listing memorandum document seen by Business Insider SSA by Pulse shows that Nigerian billionaire, Victor Odili, is the largest single shareholder in the company.
  • MTN International (Mauritius) Limited still holds more than 75% of the shareholder's power.

Last week, the Nigerian Stock Exchange (NSE) admitted MTN Nigeria Communications Plc to list shares on the stock market and joined the country's Premium Board, listing by introduction of 20.35 billion (20,354,513,050) ordinary shares at N90 per share.

This means that Nigerians can now trade and own a part in the local arm of South Africa's telecom giant, MTN Group Ltd.

The telecom company joined the likes of Dangote Cement Plc, FBN Holdings Plc, Zenith International Bank Plc, Access Bank Plc, Lafarge Africa Plc, Seplat Petroleum Development Company Plc and United Bank for Africa Plc on the most stringent corporate governance and listing standards of the NSE – Premium Board.

The company is now the second biggest company on the Nigerian Stock Exchange after Dangote Cement.

In a document seen by Business Insider SSA by Pulse Monday, MTN listing memorandum listed the shareholders and their stakes in the local telecom firm.

These are the largest shareholders of MTN Nigeria and their stakes

1. MTN International (Mauritius) Limited

  • Stake: 76.08%
  • N1.68 trillion

2. Stanbic IBTC Assent Management Limited

  • Stake: 9.64%
  • Worth: N213.7 billion

3. Victor Odili

  • Stake: 3.96%
  • Worth: N87.87 billion

4. Mobile Telephone network

  • Stake: 2.75%
  • Worth: N60.95 billion

5. Government Employees Pension Fund

  • Stake: 1.75%
  • Worth: N38.68 billion

6. Pascal Dozie

  • Stake: 1.67%
  • Worth: N37.07 billion

7. Sani Mohammed Bello

  • Stake: 1.3%
  • Worth: N28.87 billion

8. Babatunde Folwawiyo

  • Stake: 1.07%
  • Worth: N23.83 billion  

9. Gbenga Oyebode

  • Stake: 0.89%
  • Worth: N19.80 billion  

10. Mallam Ahmed Dasuki

  • Stake: 0.75%
  • Worth: N19.35 billion

11. Kari Olutokun Toriola

  • Stake: 0.005%
  • Worth: N100.10 million.

The listing memorandum also stated that Mallam Ahmed Dasuki will hold an additional 25,000,000 (Twenty-Five Million) Ordinary Shares in the Company by virtue of the unwinding of the nominee arrangement while Karl Olutokun Toriola will hold 920,000 (Nine Hundred and Twenty Thousand) Ordinary Shares in the Company through a vehicle, MTN Employees Cooperative Society, by virtue of the unwinding of the nominee arrangement. 

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