MTN Nigeria enters the NSE with $6 billion market capitalisation
Thursday, 16 May 2019 13:05
(Ecofin Agency) - Today May 16, 2019, MTN Nigeria is getting listed on the Nigerian stock exchange with a market capitalisation of $6 billion.
The operator has chosen a listing without prior IPO. It simply listed its existing shareholders’ equity. With such market capitalisation, MTN Nigeria may be the second largest firm by market capitalisation on this exchange.
It is just behind Dangote Cement that is till date the undisputed leader by market capitalization. Despite a 6.8% loss this year, its market capitalisation is still $8.5 billion.
Let’s note however that MTN Nigeria’s share price is NGN90, below its real worth. This could mean possibilities for rapid growth.
This share price was decided to take ongoing challenges (with various regulators) that could affect the operators’ equity into account.
Idriss Linge
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