Anable Mobile to approach NSE for fresh funds via IPO
Category: Capital Market
May 11, 2009 at 15:28 GMT
Anabel Mobile newly established indigenous Nigerian Mobile Telecoms Company may approach the Nigerian Capital Market (NCM) to raise fresh funds through an Initial Public Offering (IPO).
The company late last year was granted licence by the Nigerian Communications Commission (NCC) to deliver Smartphone mobile devices in Nigeria; which is designed and manufactured for the African market.
However, a Capital Market Operator (name withheld) affirmed to Proshare NI that this may not be possible as the company is not yet up to a year to be allowed to approach the Capital Market for fresh funds through an IPO.
“They may not be given any waiver as the regulation in the Capital Market is taking a new dimension and no room for manipulations” the Market Operator said.
As earlier reported, Nicholas Okoye, a former Technical Adviser to the Director-General (DG) of the Nigerian Stock Exchange (NSE) is the President/Chief Executive Officer (CEO) of the mobile telecoms company.
However, as at the time of filling in this report, Proshare NI has not yet clarified this from Okoye, but would be following up to bring you breaking developments on this.