In 6 Months, MTN Shareholders Gain N35 Billion as Firm's Market Cap Hits N4.6 trillion
- Shareholders of one of the telco giants, MTN Nigeria are all smiles as they see their shares in the company appreciate
- The telecommunication company which went public in December of 2021 saw its shares appreciate by N61 per shares
- On a whole, the share price of the stock has gained a whopping N185 billion or 4.12 per cent in a week.
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Shareholders of MTN’s public offer which was conducted in December 2021 have gained about 36 billion since the close of the offer last year.
The telecom giant listed its IPO price at about N169 per share when it went public in December and attracted 126,000 Nigerian investors.
Source: Getty Images
According to Nairametrics, MTN Nigeria closed its last trading on Friday, June 24, 2022, at about N230.00 per share and N4.683 trillion market cap on the Nigerian Stock Exchange.
Share price of telco accumulates
This shows that the share price has accumulated an amazing N61 per share then or about N35 billion based on 575 million shares it was sold.
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The company started with a share price of N197.00 and has since gained 16.8 per cent in price valuation.
On a whole, the share price of the stock has gained a whopping N185 billion or 4.12 per cent in a week.
The market perception for the segment which includes two telcos of MTN Nigeria and Airtel Africa has stayed resilient despite the pandemic.
Telecommunication companies are making the most of the remote work which most firms have adopted in face of the COVID-19 pandemic to rake in huge amounts on voice and data charges.
Internet users have surged for many of the telcos and their workers after introducing the work-from-home policy caused by the pandemic.
Experts weigh in on gains of remote work
Experts have said millions of users who came out of COVI-19 lockdowns will be more connected and more familiar with digital work tools.
According to them, the telcos would have gotten firsthand experience in dynamic network and traffic management while businesses and their partners in the telecom industry have a better knowledge of the challenges confronting those who work from home.
In the past three months, MTN has traded a total volume of 191 million shares in 21,340 deals which are valued at N43.7 billion with an average of 3.03 million traded shares per session. The company achieved a high trading volume of 22.8 million was million on April 13, 2022, and a low of 149.497 on April 15 at the same time.
MTN begs Nigerians as millions of subscribers suffer network failure
Legit.ng reported that following the downtime of the network suffered by millions of MTN subscribers in Nigeria on Saturday, October 9, the telco has apologised for the incident.
The Guardian reports that the MTN customers couldn’t call, surf the Internet and stream videos for many hours.
Legit.ng gathered that the challenge was not limited to Lagos, as the downtime was experienced in other parts of the country.
Source: Legit.ng
