Minority investors have completely lost out of huge profits telecommunications firms are making in the Nigerian market.
This loss is coming on the heels of the delisting of IHS Nigeria Plc from the Nigerian Stock Exchange (NSE).
Since telecoms operators like MTN Nigeria, Airtel, Globacom and Etisalat Nigeria, which are making huge revenue from Nigerians are not listed on the NSE, IHS Nigeria, which is a leading mobile infrastructure company, was listed on the exchange.
Through this listing, some Nigerians, who are shareholders of IHS Nigeria, were indirectly benefitting from the profits of the telcos. However, these shareholders will no longer be partakers of such profit as the NSE has delisted IHS Nigeria Plc from the exchange.
The company submitted an application for voluntary delisting of its 4.4 billion ordinary shares and two preference shares of 5.199 billion units and 2.791 billion units respectively, to this end, it was delisted from the NSE.
Some market operators who spoke on the development, said the delisting of IHS Nigeria is bad for both investors and the capital market, considering the fact there have been calls for other telecommunications operators in the country telcos to list on the market.