MTNN Hits N4.27 Trillion Valuation as it Gains N61 Billion in Market Value

MTNN Hits N4.27 Trillion Valuation as it Gains N61 Billion in Market Value

  • MTN Nigeria Plc shares went up yesterday, Wednesday 30, 2022 by 1.45 per cent as the company gained about 61 billion
  • At the end of trading on Friday March 30, 2022, the company's market capitalization stood at N4.27 trillion
  • The company spurred positive sentiments from investors which was propelled by buy-in interests

The share price of MTN Nigeria Plc seems to be running on some enhancements as its share price went up by 1.45 per cent to close trading on Wednesday, March 30, 2022, at N210 per share. This has taken the company’s market capitalization to N4.27 trillion.

The increase in share prices recorded by the telecoms giant is due to investors’ appetite which was triggered by a positive outlook that supported the company’s value by 145 basis points, according to reports from Nairametrics.

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MTN Nigeria Plc, Nigeria stock exchange, MTN shares
MTN shares appreciate Credit. Pius Akpeyi
Source: Getty Images

MTN shares roars on NGX

Therefore, the rallying in the shares of the company resulted in a profit of N61.06 billion in market capitalization at the end of trading on the floor of the Nigerian stock exchange.

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MTN Nigeria’s share went up from N207 per share to N210 per share which is the highest price traded at end of the market, representing an increase of 1.45 per cent which in monetary terms is about N300.

Stock performance summary

The buy-in interests seen in the shares of the company positively affected its market capitalisation from N4.21 trillion to N4.27 trillion at the end of the day’s trading activities which takes the gains to N61.06 billion.

The company’s shares have earned 6.60 per cent from year-to-date, beginning the year at N197.00 and now trading at N210 which is a 52 week high.

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Investors have gained about 31.25 from the shares of the company which they bought at N160 per share.

MTN Nigeria’s ordinary of 1,275,799 worth about N268.66 million in 230 deals exchanged hands at end of Friday’s trading.

MTN Nigeria shareholders lose N386.7bn In eight hours after the announcement of a public offer

Legit.ng has reported that shareholders of MTN Nigeria lost N386.73 billion on Wednesday, following the announcement of a public offer to the investing public.

Legit.ng had earlier reported that MTN announced it is making 575 million of its shares available to the public at N169 per unit.

The offer includes an incentive in the form of 1 free share for every 20 shares purchased, subject to a maximum of 250 free shares per investor.

Source: Legit.ng

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