MTN Nigeria now more valuable than all the banks, insurance companies on the Nigerian Exchange

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MTN Nigeria now more valuable than all the banks, insurance companies on the Nigerian Exchange

MTN Nigeria now more valuable than all the banks, insurance companies on the Nigerian ExchangeMTN Group’s Nigerian unit is now more valuable than all the banks, insurance companies on the Nigerian Exchange

  • The combined market capitalisation of all the quoted banks and insurance companies on the Nigerian Exchange is N4 trillion ($9.6 billion).
  • MTN Nigeria’s market cap, on the other hand, is currently N5 trillion (about $12 billion).
  • MTN Nigeria, Airtel Africa and Dangote Cement are the three most capitalised companies on the Nigerian bourse.

According to capital market data from the Nigerian Exchange dated May 20th, MTN Nigeria’s market capitalisation stood at N5 trillion (about $12 billion), making it one of the most valuable companies in Nigeria.

For specifics, the telecom company is now more valuable than the combined market capitalisations of all the 11 commercial banks and over 20 insurance companies that are listed on the Nigerian Exchange.

Note that the combined market capitalisation of all the financial services companies listed on the Nigerian bourse is currently at N4 trillion ($9.6 billion).

MTN’s high market capitalisation is all thanks to a jump in its share price. The stock is currently trading at N249 ($0.60) per share, according to checks by Business Insider Africa. Year to date, the stock price has appreciated by +54.42% according to data obtained from Financial Times.

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