MTN Nigeria Crossed N4 Trillion Ahead of Q4 Earnings
MTN Nigeria Plc has again crossed N4 trillion market value in the equities segment of the Nigerian Exchange following a positive price movement. Over a short trading period last week, the telecom stock gained 10.54% on the back of a Santa Claus visit that lasted till Friday’s close.
Data from the local bourse showed that MTN Nigeria share price rose to N194 from N175.5 due to increased demand boosted by earnings expectations. The positive price movement lifted its market value to N4.073 trillion on the Nigerian Exchange trading platform. This is about half of Airtel Africa Plc’s market value, its major arch rival in the Nigerian market.
With the fourth quarter earnings around the corner, investors expect MTN Nigeria’s decision to localise deals and debts to improve its performance. The company has been borrowing from the local debt capital market to fund its working capital and meet other needs.
In the telecom segment, MTN Nigeria has remained a category king with strong earnings and better profitability that underscore its strong market share. But it earnings performance had come under intense pressure due to huge FX losses in the past quarters.
Still, MTN is trading at a significant discount of more than 39% to its 52-week high in the Nigerian equities market. # MTN Nigeria Crossed N4 Trillion Ahead of Q4 Earnings Ministry Seeks $2 billion Fibre Optics Funding