MTN’s Nigerian unit now most valuable stock in NSE

Telecom giant, MTN Nigeria Communications Plc. has become the most valuable company on the Lagos Stock Exchange (NSE).

The company which listed on the Nigerian stock market only three months ago, had achieved a market capitalization of N2.82 trillion ($7.82 billion) as of Monday’s close of trading.

The mobile phone company has overtaken Dangote Cement Plc, owned by Africa’s richest man, Aliko Dangote.