NSE: Market capitalisation loses N302 billion amid declining appetite on MTN shares - Premium Times Nigeria

Trading on the Nigerian equities market opened for the week on Monday with a loss of 2.22 per cent, following declining investors’ appetite on MTN Nigeria Communications shares.

Also, the All-Share Index which opened at 30,881.29 shed 686.58 points or 2.22 per cent to close at 30,194.71.Market analysts attributed MTN Nigeria loss to controversy trailing the company since it listed on May 16. The statement said that the company received a letter on May 23, from EFCC requesting information and documentation related to the listing of its shares on the NSE.“We wish to reiterate that we received all regulatory approvals required to list our shares on the NSE, as publicly confirmed by NSE and the Securities and Exchange Commission .“We are committed to good governance and to abiding by the extant laws of the Federal Republic of Nigeria,” said the statement.

ETI followed with a gain of 95k to close at N11, while Dangote Flour gained 50k to close at N16.60 per share.

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