The listing of MTN Nigeria Communications Plc on the Nigerian Stock Exchange, NSE, yesterday, boosted market capitalisation by N1.8trillion, even as the limited supply of the shares constrained deals.
The company was listed by the introduction of 20.35 billion ordinary shares at a price of N90 per share . The listing price was determined from private over-the-counter share deal by existing shareholders over the past six months. The price values the telecoms company at N1.84 trillion . Commenting on the development, National Council President, NSE, Otunba Abimbola Ogunbanjo, said: “We are particularly pleased that MTN Nigeria has joined the prestigious club of companies listed on our Premium Board with this landmark transaction, which will differentiate it as a professionally run telecommunications company with high standards, having met NSE’s listing criteria.
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