Investors in MTN Public Offer gain N35 billion in 6 months
The company listed its public offer price at about N169/share when it made the offer public in December attracting over 126,000 Nigerians.
Checks by Nirametrics revealed that MTN Nigeria closed its last trading day (Friday, June 24, 2022) at N230.00 per share and N4.683 trillion in market capitalization on the Nigerian Stock Exchange (NGX).
This indicates the share price has gained an impressive N61 per share since then or an estimated N35 billion based on 575 million shares it sold.
In total shares of the stock as gained a whopping N185 billion or 4.12% in one week.
What’s driving the gains?
Telecom companies are currently taking advantage of the remote working which most companies have adopted following the COVID-19 pandemic to rake in gains from data subscriptions and voice calls.
Most workers are leveraging the Internet for online education, teleworking, gaming and entertainment and there has been a rise in Internet traffic recorded by the Internet exchange point.
What stakeholders are saying