MTN Nigeria Communications Plc’s (NSE – MTNN) Non-Executive Director, Karl Toriola has increased his stake in the company via the acquisition of the company stocks valued at over N85 million.
This, was contained in a filing the company to the Nigerian Stock Exchange (NSE) signed by Uto Ukpanah, the company Secretary.
According to the filing seen by Investogist, the transaction occurred in Lagos on 31 December 2020. Toriola purchased an aggregated volume of 515,102 ordinary shares of MTNN at an average price of N165.61 per share in 12 transactions.
Recall that on 25 June 2020, Toriola acquired 920,000 ordinary shares of MTN Nigeria Communications Plc at N118.00 per share in a single transaction valued at N108.56 million.
MTN Nigeria Communications Plc is the second most capitalized stock on the Exchange, with a market capitalization of N3.36 trillion.
It has 20,354,513,050 outstanding shares, and it is listed on the Premium Board of the NSE.
The official closing of the equity price on Tuesday was N165.20 per share as it lost 2.77%.
By: Ifunanya Ikueze