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MTN Nigeria, the largest telecommunication company in Nigeria, is on the verge of displacing Dangote Cement as the country’s largest company by market capitalisation.
Shares of the telecoms firm jumped 4.4 percent Thursday to N135, the highest since June 14, ahead an interim dividend payment of N2.95, bringing its market value to N2.74 trillion, while those of Dangote Cement fell 1.82 percent to hit a market capitalisation of N2.76 trillion.
As a result, the N782.52 billion value gap between the two Nigeria’s biggest publicly-listed firms after the telco’s maiden session on the Nigerian Stock Exchange (NSE) on May 16 has fallen to N12.7 billion.
Details later…
OLUWASEGUN OLAKOYENIKAN
