MTN Nigeria Set to Release Audited Report After Board Meeting
MTN Nigeria Plc is set to release its audited financial results for 2024 following a key meeting of its board of directors scheduled for tomorrow. The company has shown a significant recovery in its stock performance, bouncing back from a difficult earnings period that lasted for three quarters. According to data from the Nigerian Exchange, MTN Nigeria’s share price has risen more than 55% since last year, when it reached a low of N170. As of Friday, the company’s share price closed at N264.20, and its total market capitalization stood at N5.547 trillion with 20.995 billion shares outstanding.
Several factors, including renegotiated deals, commercial paper borrowings, and increased tariff hikes, have contributed to the telecom company’s recovery despite challenging market conditions. In a previous announcement to the Nigerian Exchange, MTN Nigeria revealed that a meeting of the Board of Directors was scheduled for Thursday, February 27, 2025, to review and approve the company’s Audited Condensed Consolidated Financial Statements for the period ending December 31, 2024.
In accordance with post-listing regulations, the company also initiated a closed period starting from December 30, 2024, restricting insiders and their connected persons from trading in the company’s securities until 24 hours after the financial results are made public. This closed period ensures compliance with securities regulations and transparency for investors.
