The listing of MTN Nigeria shares on the Premium Board of the Nigerian Stock Exchange (NSE) has made it possible to identify the shareholders of the telecoms firm. Many Nigerians believed the Nigerian Government owned part of the South African firm through an unspecified equity holding by the Nigeria Sovereign Investment Authority (NSIA). However, the Premium Times reports that a review of the listing memorandum filed by MTN Nigeria in support of its application for the enlistment of its shares revealed the profiles of the shareholders of the company. The list did not include either the Nigerian Government or the NSIA. Although the NSIA did invest in MTN Nigeria, it has since divested from it. There are now 11 owners of MTN Nigeria who control the entire 20.3bn ordinary shares of the company valued at about $1.3bn. They include the majority shareholder, MTN International (Mauritius) Limited, which has the controlling 76.08% equity, and Stanbic IBTC Asset Management Limited with 9.77% stake. Also listed are six Nigerians, who are non-executive directors of the board of the company.