MTN Nigeria’s valuation tops N5trn as shares soar
MTN Nigeria Communication Plc saw its market capitalisation cross the N5 trillion mark on Thursday as its shares soared by the maximum limit of 10 percent for the second straight day.
Its valuation rose to N5.08 trillion from N4.19 trillion on Tuesday as its share price closed at N242, up 21% in two days, according to data from the Nigerian Exchange Limited.
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The telecommunications company was the biggest riser on Thursday and shared the top spot with Transnational Corporation Plc on Wednesday.
The country’s main stock index was up for the second straight day, rising to 105,530.74 basis points from 103,398.82bps on Tuesday. The total market value of the NGX stood at N64.35 trillion, gaining N1.3 trillion in two days.
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