MTN Nigeria Communications Plc, the largest telecommunications company in Nigeria by subscriber base, sustained its bullish trend in early trade on the Nigerian Stock Exchange (NSE) on Thursday.
The stock gained 4.83 percent to N151.85 per share as at 10:30AM in Lagos, the smallest increase recorded by the telcoms firm since it listed on the Lagos bourse introduction a week earlier.
Consequently, MTN Nigeria’s total market capitalisation rose to N3.09 trillion, making it N317.34 billion behind Dangote Cement, which shed its market value by 1.48 percent to N200 also in early trade to reach N3.41 trillion.
At the current price, MTN Nigeria remains the second-biggest company listed on the NSE by market capitalisation. It has so far returned 68.72 percent or N61.85 since it started trading at the exchange.
