MTN Nigeria’s market capitalisation has crossed N10 trillion after the telecommunications company’s (telco) share value appreciated by 16.9 percent between Monday and Friday.
The telco is the second company to cross the N10 trillion mark after Dangote Cement’s valuation reached N12.8 trillion in January 2024.
As of Monday, MTN’s capitalisation was N8.62 trillion, however, at the end of trading on Friday, the telco’s valuation grew to N10.07 trillion, representing an increase of N1.45 trillion within five days.
The growth was driven by strong demands for MTN’s shares, as the company’s share price increased by N69.40 kobo, from N410.6 kobo to N480 per share within the period under review, according to data obtained from the Nigerian Exchange Limited (NGX).
With a N10.07 trillion market capitalisation, MTN moves to the top spot on the list of the most valuable companies in the Nigerian bourse, leapfrogging Airtel Africa.
Dangote Cement moved to the second spot after its market capitalisation increased from N8.34 trillion to N8.91 trillion, while BUA Cement was ranked third, as its valuation appreciated from N8.26 trillion to N8.70 trillion.
Airtel Africa dropped to the fourth spot after its market valuation was static at N8.68 trillion during the week, due to the network provider’s share price trading flat at N2,310.5 kobo.
BUA Cement completed the top five list with N5.01 trillion capitalisation, which rose from N4.57 trillion.
