Business/Finance
MTN Nigeria public offer was masterful – ISAN boss
The National Co-ordinator of Independent Shareholders Association of Nigeria (ISAN), Dr Anthony Omojola, has described MTN Nigeria latest public offer which allowed six million Nigerians to buy into the company as shareholders is masterful.
He therefore asked other top Nigerian firms to emulate MTN Nigeria in the overall interest of the capital market.
Going on, he maintained that the national economy would be difficult to retore going forward,saying that the current government has put the nation in trouble with over bloated debt.
Reacting to the recent projections by the Nigerian Exchange Group for the year and their performance so far,he said that its too early in the day to judge the demutualization efforts of the Nigerian Exchange Group(NGX),adding that the efforts success would be examined at the right time.
Speaking about the recent listing by BUA Food, Dr Omojola noted that BUA should have come at a lower price in the overall interest of retail investors who are in love with the company,but expressed the views that market forces will after all determine the fate of the stock going forward
Said he: “Yes,BUA coming on board is it to come to get more funds or to benefit the people?Look at the price N40 it’s too high and we have reservations about it.
”Naturally if its not worth it the brokerage will move to bring it down to its rightful place. We want more of the big companies to come on board. MTN has done that and we are happy with what they have done and the manner they did it by giving up some ownership for Nigerians to take up.”
