By Ayomide Otitoju
The Board of Directors of MTN Nigeria Communications Plc is set to meet on Thursday, February 27, 2025, to review and approve the telecom giant’s audited financial results for 2024.
Despite a challenging earnings performance over three consecutive quarters, MTN Nigeria has staged a strong recovery in the stock market. Data from the Nigerian Exchange (NGX) reveals that the company’s share price has surged over 55% since hitting a low of ₦170 last year. As of Friday’s close, MTN Nigeria’s stock stood at ₦264.20, with investors valuing its 20.995 billion outstanding shares at ₦5.547 trillion.
Market Recovery Driven by Strategic Adjustments
The telecom company’s resurgence is attributed to deal renegotiations, commercial paper borrowings, and tariff increases, which have helped it navigate difficult market conditions.
In a regulatory filing to the Nigerian Exchange Limited (NGX), MTN Nigeria confirmed that its Board of Directors will assess the company’s Audited Condensed Consolidated Financial Statements for the period ending December 31, 2024, along with other key agenda items.
As part of compliance with post-listing regulations, MTN Nigeria implemented a closed trading period on December 30, 2024, which will remain in effect until 24 hours after the financial results are made public.
Insider Trading Restrictions in Effect
During the closed period, company insiders and their connected persons are restricted from engaging in direct or indirect transactions involving MTN Nigeria securities.
Market analysts are closely watching the company’s financial performance, as the upcoming earnings release could significantly influence investor sentiment and stock price movements.
