Investors appeared to be willing to pay more than the 10 per cent daily premium on the share price of MTN Nigeria Communications Plc. While the share price of the telecommunications company rose again by 10 per cent at the weekend to N108.90 at the open market at Nigerian Stock Exchange (NSE), investors went into off-market negotiations to buy the stock at N125 per share.

A transaction note at the weekend indicated that nine deals were struck for 16.26 million ordinary shares of 2.0 kobo each of MTN Nigeria at N125 per share at the negotiated dealing window of the NSE.

The negotiated deals were struck at 14.78 per cent premium to the closing price of N108.90. Under the rules at the open market at the NSE, the maximum daily allowable price change is set at 10 per cent.

As off-market, negotiated cross deals, it means that the deals were not subjected to the dynamics of price discovery for the particular period. Off-market trade implied that the deals were previously negotiated and only sealed through the transfer portal of the Exchange.
The negotiated cross deal platform of the Exchange is a special-purpose trading platform that is meant for voluminous transaction. By the cross deal, it implies that the buyer and the seller had been prearranged and the transfer at the stock market was a mere perfection of the agreement between the two. The negotiated cross deal allows the parties to the deal to close the deal at reduced cost.

MTN Nigeria Communications rose by the maximum daily allowable price gain of 10 per cent on Friday, chalking up a whooping N201.47 billion capital gains in second day of trading at the stock market. MTN Nigeria on Thursday listed by way of introduction 20.35 billion ordinary shares at N90 per share.

MTN Nigeria’s share price, which rose by 10 per cent or N9 on Thursday, also rose by the same maximum percentage on Friday, adding N9.90 to close now at N108.9 per share. With the ongoing rally, MTN Nigeria has gained N384.62 billion in two days, pushing its market value from initial listing value of N1.83 trillion to N2.22 trillion. The off-market deal valued MTN Nigeria at N2.54 trillion, some N400 billion below Dangote Cement, the most capitalised quoted company. Many analysts believed that MTN Nigeria will overtake Dangote Cement as the most capitalised company at the Nigerian stock market this week.

SOURCE: https://www.trendingaccounting.com/2019/05/mtn-nigeria-sells-at-n125-per-share-in.html

I need a stock broker asap

Ok

Great stuff!



I sell cheap and super neat laptops.

Details on signature.

I hope they will invest the profits on boosting their services and reduce tarrifs.

Caution!!!

Good deal.

Good we took the initiative from day one.

Now, it's time to keep watching and reading attentively.

iykebest1:
I need a stock broker asap

Get up and do it bro.

Do the talk, you won't regret it!

Make hay while the sun shine!

Need to trade on this stock...

For stock market stuff you need to hit www.easykobo.com



Join the community and benefit from it. Pls note Easykobo is not a stockbroker it is a community of investors.

owolabi5:
This MTN shares I tire o!

I placed order with my broker since Thursday not even a single unit to buy. Retail investors are been ignored until it becomes heavily over priced then dumping will start.

Meanwhile

For processing of your new vehicle registration (Lagos number plate), change of ownership, renewal of vehicle particulars such as vehicle licence, hackney permit, third-party and comprehensive insurance, roadworthiness certificate, heavy duty permit, driver's licence processing and renewal, please call: 08033539981 or 08182880902. Thanks

just like the banks

Please which stockbroker is the best in Nigeria?

And do any have app on apple/android store s?

At least still Better for investors..

Fear of Missing Out(FOMO) is driving investors now.

Ik

This scam bubble go still burst..trust me

Why buy now? When the hype is over and the dynamics of the Nigerian economic system sets in, share price will crash and adjust to reality. Then MTN owners and their federal government collaborators would be richer and many Nigerians would have lost billions of naira in value of their shares. For now, the Nigerian Stock Exchange is just another MMM. Watch and Pray lest ye fall into temptation bad investments . I just hope MTN shares profits won't be like MTN data that disappears faster than mosquitoes at night

Nuvellers:
Nice one

Grow up dude. Do you know your father or your mom could be reading this

Nice

daddytime:
This scam bubble go still burst..trust me

Only a matter of time MMM part 2 loading

iykebest1:
I need a stock broker asap

Na every day you dey need stock broker, Just to show yourself

This Nigeria Stocks no dey get chart?

Olutala:
I hope they will invest the profits on boosting their services and reduce tarrifs.

What profits? Share price appreciation is capital gains to the individual shareholders, not to the company...
>