MTNN - MTN Nigeria

Sep 26, 2023 at 15:47 Twitter · Facebook

MTNN share price on Nigerian Stock Exchange

MTN Nigeria Communications Plc, established in February 2001, is the Nigerian subsidiary of the MTN Group - a telecommunications group operating in 22 countries across Africa and the Middle East. Since inception, MTN Nigeria has led the growth of the telecom industry to become the biggest mobile operator in the whole of West Africa. It began with a 900/1800MHz second-generation digital mobile service, but upgraded to 3G in 2007. With over 55 million subscribers, MTN Nigeria provides cellular network services and technology solutions to millions of Nigerians through 15 service centers, 144 Connect Stores, and 247 Connect Points located in every state of the country. MTN Nigeria is 75.81% owned by MTN International (Mauritius) Limited, 18.7% by Nigerian shareholders through special purpose vehicles, 2.78% by Mobile Telephone Networks NIC B.V, and 1.76% by Public Investment Corporation SOC Limited.

MTN Nigeria is listed on the Nigerian Stock Exchange (NGX) since May 16th, 2019. MTN is traded on the NGX under the ticker symbol “MTNN”. The International Securities Identification Number (ISIN) of NGX:MTNN is NGMTNN000002. MTN Nigeria is currently the second most valuable stock on the NGX with a market capitalization of NGN 5.55 trillion, which makes about 15.2% of the entire Nigerian Stock Exchange equity market.

MTNN Stock Market Performance

The current share price of MTN Nigeria (MTNN) is NGN 264.50. MTNN closed its last trading day (Tuesday, September 26, 2023) at 264.50 NGN per share on the Nigerian Stock Exchange (NGX). MTN began the year with a share price of 215.00 NGN and has since gained 23% on that price valuation, ranking it 85th on the NGX in terms of year-to-date performance.

MTN Nigeria is the 42nd most traded stock on the Nigerian Stock Exchange over the past three months (Jun 30 - Sep 26, 2023). MTNN has traded a total volume of 124 million shares—in 19,894 deals—valued at NGN 34.2 billion over the period, with an average of 1.96 million traded shares per session. A volume high of 21.3 million was achieved on August 24th, and a low of 234,588 on September 19th, for the same period. The table below details the last 10 trading days of activity of MTN Nigeria on the Nigerian Stock Exchange.

Profile of MTN Nigeria Communications Plc

MTN Nigeria Communications Plc was founded on February 9, 2001 and operates in the Telecommunications sector, specifically, the Mobile Telecommunications industry. The company is led by Karl Olutokun Toriola (51) as its Chief Executive Officer, since 2021. The company's board of directors, chaired by Ernest Ndukwe (75), is composed of 15 members whose names are listed below.

1. Ndukwe, Ernest
   Executive Chairman
2. Toriola, Karl Olutokun
   Chief Executive Officer
3. Kadri, Modupe
   Chief Financial Officer
4. Norman, Paul
   Non-Executive Director
5. Mupita, Ralph
   Non-Executive Director
6. Moolman, Ferdi
   Non-Executive Director
7. Okauru, Ifueko M Omoigui
   Non-Executive Director
8. Johnson, Omobola
   Non-Executive Director
9. Alli, Andrew
   Non-Executive Director
10. Mahmoud, A. B.
    Non-Executive Director
11. Schulte-Bockum, Jens
    Non-Executive Director
12. Molefe, Tsholofelo
    Non-Executive Director
13. Gasant, Rhidwaan
    Independent Non-Executive Director
14. Ajukwu, Michael Onochie
    Independent Non-Executive Director
15. Ahmad, Muhammad K.
    Independent Non-Executive Director

MTNN Industrial Market Competitors

MTN Nigeria Communications Plc, issuers of the MTNN stock on the Nigerian Stock Exchange, have two market competitors who are also engaged in the Telecommunications sector and/or Mobile Telecommunications industry. The table below presents an overview of their market standing.

Index of African Stock Exchanges:

1. Botswana Stock Exchange
2. BRVM Stock Exchange
3. Ghana Stock Exchange
4. Johannesburg Stock Exchange
5. Lusaka Securities Exchange
6. Malawi Stock Exchange
7. Nairobi Securities Exchange
8. Nigerian Stock Exchange
9. Uganda Securities Exchange
10. Zimbabwe Stock Exchange