MTN Nigeria LTD, a subsidiary of Africa’s largest telecommunications company MTN group, has been listed on the Nigerian Stock Exchange (NSE).
With 20 billion shares being offered initially at 90 naira per share and a market capitalization of $6bn, MTN Nigeria is the second largest listing on the NSE after Dangote Cement.
The listing was concluded at the Nigerian Stock Exchange on Thursday in Lagos
The telecommunications company has added n1.83 trillion to the market capitalization of the Nigerian exchange.
Nigeria is MTN’s biggest market in Africa with nearly 60 million customers at the end of last year.
The company is also listed in South Africa and Ghana, with expectations to list in Uganda following a push for local ownership by authorities in Kampala.
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