MTN Nigeria quoted up 10% in pre-market bids after… – News Report


ABUJA, May 17 – MTN Nigeria shares rose another 10% to 108.90 naira in pre-market bids on Friday after its debut $6.5 billion stock market listing on the Lagos bourse.

Nigeria’s biggest telecoms firm, owned by South Africa’s MTN Group, listed in Lagos on Thursday in a flotation that made it the second-largest company on the exchange by market value after Dangote Cement.

A total of 150,000 bid orders had been placed for the stock by 0847 GMT. The shares, which listed at 90 naira, closed 10% higher at 99 naira on Thursday. (Reporting by Chijioke Ohuocha; Editing by Jan Harvey)


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