On a very fascinating thread, MTN explains what we have been saying: I can go to a market (Nigerian Stock Exchange) and display my farm produce (MTN Shares) for all to see but without any obligation to sell to any new person. But if some people that had bought the produce while I was on the road to the market decide to re-sell their portions, they are free to do. I have done nothing wrong in the community because people know where these resellers are: ”According to Nairametrics, just yesterday, MTN Nigeria Plc was the most actively traded stock, with 93.7 million shares valued at N13.5 billion exchanged in 464 deals.”This is the source of the episode. [MTN linked to it via the ad below, so I give it to it].
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There has been confusion in some quarters since MTN announced a week ago, that it was listing its shares on the Nigerian Stock Exchange (NSE) by way of introduction. Nigeria info in a podcast and CNBC in a report have both tried to break this down but this thread by Neusroom will help put things in clearer perspective. The issue primarily borders on the perceived scarcity of the company’s stock but the numbers indicate a different story. According to Nairametrics, just yesterday, MTN Nigeria Plc was the most actively traded stock, with 93.7 million shares valued at N13.5 billion exchanged in 464 deals.