It’s official, Nigeria’s largest GSM Company, MTN Nigeria, will be listed on the Nigerian Stock Exchange on Thursday 16th of May 2019. As followers of the Nigerian Stock Exchange, we have waited for years for this to happen and we are glad to finally see this long-awaited announcement come alive.
What does this mean? By listing MTNon the Nigerian Stock Exchange, its shares can now be traded everyday by buyers and sellers. Until, now this was not possible as its shares were held privately by its investors. You could only previously buy and sell MTNshares in South Africa and until last year’s Ghana IPO.
Who can buy and sell MTN shares? MTN shares can only be bought or sold by retail and institutional investors who have a CSCS account and have an account from any registered stockbroker. You cannot buy MTN shares if you do not have a stock brokerage account from a stockbroker registered in Nigeria. To find a registered stockbroker just follow this link for the list of the top 10.
Why buy MTN shares? MTN Nigeria is a behemoth of a company reporting massive profits that run into over N160 billion. In its latest investor conference, it said that it reports a return on equity of about 90%. This means it makes a profit of N90 for every equity of N100 it investS. That’s unheard of for any quoted company in the country.
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