MTN Nigeria Slides Slightly Ahead of Earnings Release
Top telecom giant MTN Nigeria Plc share price plunged slightly ahead of the telecom fourth quarter of 2023 earnings release. The company share was priced downward to N290 as of Friday close, from N293.90 at the beginning of the weak despite sustained rally.
The telecom company share performance moved in diverge direction against booming local bourse which gained more than N1 trillion last week. The market expects the company to release its financial scorecard for the last quarter of 2023 in February.
Data from the Nigerian Exchange showed that MTN Nigeria Plc.’s market valuation settled at N6.088 trillion, spread over its 20.995 billion shares outstanding. It currently ranked as third most valuable in the local bourse versus Airtel Africa N7.5 trillion market cap.
Both listed telecom companies market valuation and Dangote Cement Plc market valuation are almost equal after strong buying interest in the cement names.
The company told the Nigerian Exchange it would no longer be considering the audited financial statement for 2023 initially schedule for January 30 as its previously communicated to the market. #MTN Nigeria Slides Slightly Ahead of Earnings Release#
