Chief Executive Officer of Chapel Hill Denham Advisory Limited, Mr. Bolaji Balogun has said the listing of MTN Nigeria Communications Plc will encourage many other large unlisted companies in telecommunications and other sectors to list on the Nigerian Stock Exchange (NSE).
The NSE last Thursday listed the shares of MTN Nigeria, adding N1.8 trillion to the market capitalisation of the exchange. MTN is the second largest stock on the NSE now after Dangote Cement Plc. Balogun, whose company and Stanbic IBTC Capital, acted as joint financial advisers to MTN on the successful listing, said it was significant.
“The listing is very significant firstly because it is adding almost N1.8 trillion to market capitalisation. It would be the second largest company by market capitalisation on the exchange and more importantly, it will also bring more of Nigeria’s best companies on to the exchange and give a wider group of Nigerians the opportunity to participate in its share holding,” he said.
(This Day)
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