Shares of newly-listed MTN Communications Nigeria Plc. jumped by 10% within the first few hours of trading.
According to data compiled by Bloomberg, MTN Nigeria rose from N90 opening price to N99 per share as of 2:19 p.m.
The sudden price appreciation will now put its market capitalization to N2.01 trillion naira.
Nigeria’s largest mobile carrier is now the only company among its peers listed on the Nigerian Stock Exchange, NSE.
Learn more about MTN listing: