Investors Gain N1 trillion from Investing in Stock of MTN Nigeria
MTN Nigeria’s stock investors have gained about N1 trillion between April 2020 and October 2020, according to the Nigerian Communications Commission (NCC).
The commission said Nigerians have started riping the reward of MTN Nigeria listing on the nation’s bourse, asserting that MTN Nigeria’s stock investors have “raked in approximately N1 trillion in price appreciation and dividends since April 2020”.
Dr Ikechukwu Adinde, the Director of Public Affairs, NCC, said listing MTN Nigeria in the Nigerian capital market was as a result of collective efforts of both the Central Bank of Nigeria and the regulatory body.
“The listing of MTN was as a result of NCC’s effective regulatory action taken during the mobile network operator’s fine settlement agreement in 2016, which compelled the telco to, among other things, list on the Nigerian Stock Exchange (NSE),” he said.
The statement reads: “The listing was one of the outcomes of the NCC’s stringent regulatory posture, which served as tonic for other telcos such as Airtel to follow the same direction.
“As the country’s independent telecoms regulatory authority, the NCC, working with the Central Bank of Nigeria (CBN), facilitated the landmark listing of the country’s largest telecommunications operator on the bourse.
“That important regulatory action enabled Nigerians, consistent with the Nigerian Communications Act (NCA) 2003, to partly, own, manage and control MTN. This bold and courageous regulatory action is now transforming lives and boosting the economy.
Adinde also explained that listing the telecom giant has helped promote local investment and ownership in the telecom industry.
He said “With MTN shares available in the capital market, it is expected that Nigerians will buy shares and by purchasing the shares of MTN, they will be financially empowered and be socially transformed.”
“Also, one of the benefits of listing on the NSE is that telcos have enormous opportunity for raising more capital for network expansion, which will, in turn, bring about improvement in the quality of service delivery and quality of experience for telecom consumers,” he added.
Insider Dealing: MD of Fidelity Bank Acquires 5 Million Shares of Fidelity
Mrs. Nneka Onyeali-Ikpe, the Managing Director and Chief Executive Officer (CEO) Designate, Fidelity Bank Plc, purchased 5,000,000 shares of Fidelity Bank on Monday, November 30, 2020.
The management disclosed this in a statement forwarded to the Nigerian Stock Exchange (NSE).
Onyeali-Ikpe purchased the shares in five different transactions, according to the statement signed by Ezinwa Unuigboje, the Company Secretary, Fidelity Bank Plc.
It said 260,190 shares were acquired at N2.52 per share. While 400,000; 130,000; 2,870,000 and 1,339,810 shares were purchased at N2.55; N2.58; N2.60 and N2.56, respectively.
Aggregate information revealed the 5,000,000 shares were acquired at an average price of N2.56 per share. See the details below.
Despite Opening in Red, The Nigerian Stock Exchange Closed in Green
The Nigerian Stock Exchange closed positive on Monday despite opening the day in the red.
The market capitalisation rebounded from the N51 billion decline recorded earlier in the day to close with N21 billion profit at N18.309 trillion market value.
Similarly, the NSE All-Share Index recovered from a 0.29 percent dip to gain 0.45 percent and closed the day at 35,042.14 index points.
Investors traded 415.531 million shares valued at N4.898 billion in 5,267 transactions during the trading hours of Monday.
Airtel Africa led the most traded stocks with a N53.5 gain to close at N588.5 per share. MTN Nigeria came second with a 20 kobo gain to close at N155.2 a single share. See the details below.
Moderna Shares Jumped 20.24 Percent After Announcing Plans to Seek Approval for COVID-19 Vaccine in US and Europe
COVID-19 Vaccine: Moderna to Seek Emergency Authorisation in US, Europe
The share price of Moderna, an American Biotechnology company, rose by 20.24 percent or $25.71 on Monday after the company announced plans to apply for US and European emergency authorisation for its COVID-19 vaccine that it claimed was 100 percent effective in preventing severe cases and 94.1 percent on the regular.
“We expect to be playing a major part in turning around this pandemic,” Zaks stated.
This is coming two days after the United Kingdom ordered 40 million doses of Pfizer and BioNTech COVID-19 vaccine and announced plans to commence usage as early as December 7th.
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