MTN Nigeria Records Another 10% Gain on Second Trading Day

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  • MTN Nigeria Records Another 10% Gain on Second Trading Day

Nigeria’s second-largest listed company, MTN Nigeria, gained 10 percent on its second trading day, same as its first trading day.

The stock rose from N90 it was listed on Thursday to N108.90 on Friday as at 10:37 a.m Nigerian time and saved the Nigerian Stock Exchange from its continuous bearish trend.

Prior to MTN Nigeria listing, Nigeria’s stock exchange was down by 9.5 percent this year, the fourth-worst performance globally.

MTN Nigeria, however, reversed the losses, the NSE gained 0.5 percent on Thursday, the best performance in almost a month.

Meanwhile, the telecommunication giant just signed N200 billion loan facility with seven local banks.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]; Tel: +2347065163489.

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