MTN’s Nigerian unit becomes most valuable stock in Lagos bourse

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It may be a new kid on the block, but MTN’s Nigerian unit has become the most valuable company on the Lagos stock exchange.

Three months after listing, MTN Nigeria Communications had a market capitalisation of 2.82 trillion naira ($7.82 billion) as of Monday’s close. The mobile phone company has overtaken Dangote Cement, owned by Africa’s richest man, Aliko Dangote.

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