MTN Nigeria, the biggest telecommunications company in Nigeria has topped the Nigerian Stock Exchange (NSE) list as the most capitalized company in Nigeria.
MTN Nigeria, the biggest telecommunications company in Nigeria has topped the Nigerian Stock Exchange (NSE) list as the most capitalized company in Nigeria.
Before the displacement, Dangote Cement has topped the chart with a value gap of N782 billion. MTN Nigeria however, covered the tracks with a 2.74 percent growth that hiked its stock to N138.70 and eventually values its market at N2.82 trillion. The stock performance was calculated from the telco’s index announcement date to the date of official inclusion.
See also: MTN Nigeria Secures License to Provide Financial Services From CBN
MTN is yet to be added to the Morgan Stanley Capital International (MSCI) Frontier Markets Index. Analysis has it that the MSCI Frontier Markets Index has always provided positive growth on stock prices. Considering that stocks added to the index outperform local index on an average of 4.1%.
MTN’s prospective inclusion into the Market Index is an added advantage for the telco to gather more shares. Considering that the company recently announced that it will be paying dividends of N2.95 Naira per share to its shareholders.
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