Connect with us


MTN Nigeria shareholders lose N50.88bn in eight hours



MTNN 9-month profit falls by 3.3% to N144bn

Shareholders of MTN Nigeria lost -1.34 percent of their investment in the telecommunications company on Wednesday, as its share closed negative in the capital market.

MTN Nigeria stock had began trading at N186 per share on Wednesday, but depreciated to N183.5kobo per share at the close of trading in the Nigerian bourse

The depreciation had been fueled by sell off on the exchange floor of the y’ello network, which saw investors trade 1.74 million shares at a value of N319,979,409.5

Read also: MTN Nigeria stock hits four-month low, as shareholders lose N468.2bn to sell off

This was against the N314,962,170 parted with on Tuesday by investors in exchange for 1.69 million shares – reflecting a surge in volume of traded shares at a cheaper price.

Within eight hours of trading on Wednesday, holders of MTN Nigeria share lost N50.88 billion to the sell off that took place, as the market cap stumbled to N3.73 trillion.

The -1.34 percent dwindled the N3.78 trillion total shareholders’ investment MTN Nigeria closed with on Tuesday, Ripples Nigeria analysis shows.

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now