Capital market operators on Monday lauded MTN Nigeria application to the Securities and Exchange Commission (SEC) for listing by introduction, saying that it would deepen market liquidity.
TBI Africa.com said the market operators stated this in an interview with the News Agency of Nigeria (NAN) while reacting to SEC confirmation of MTN Nigeria application for listing by introduction.
Prof. Uche Uwaleke of Nasarawa State University Keffi, told NAN that the capital market community was in jubilation mood, saying that it would add additional two trillion to the market, when perfected.
Uwaleke, now a research fellow at SEC, said that the market capitalisation of the Nigerian Stock Exchange (NSE) would be deepened with the coming of MTN.
“We are happy about the development because it will further deepen the market if MTN comes, we are looking at additional N2 trillion being added to market capitalisation and it will make MTN the second largest quoted company in Nigeria after Dangote Cement,” he said.
Uwaleke said that listing of MTN would help in product diversification at the exchange.===NAN
