Zenophobia: Value Of MTN’s Shares Down By N30.5bn on NSE

The market capitalisation of shares belonging to telecom giant, MTN Nigeria on the Nigerian Stock Exchange dropped by N30.5bn at the end of trading on Wednesday.

It was reported that MTN’s shares, which opened at N140 per share, lost N1.50 to close at N138.50.

The telecommunications company, which is Nigeria’s largest, announced in a statement on Wednesday that all its offices and service centres would be closed till further notice to avoid reprisal on its facilities.

In total, the market capitalisation, which opened at N13.420tn, lost N130bn to close at N13.290tn.