MTN Nigeria Communication Plc successfully floated its shares on the Nigeria stock exchange market yesterday Thursday 15th May. The shares price is placed at a unit price of N90 per share, making it the second largest listed company in Nigeria. The shares started trading around 2.14 PM on Thursday, only 16 minutes before the market closed for the day.
MTN stocks provide an amazing investment opportunity for anyone who wishes to invest. With revenue of 282 billion naira in the first quarter and having solidified its place as Nigeria topmost communication giant, putting your money in MTN stock would be a good investment according to analysts.
If you are interested in investing in MTN Nigeria stocks, then you can follow this guide to get on with it. Investing in stock today is quite easy unlike before, here are the three basic steps you should take to make your investment.
Open An Account With A Stockbroker
A stockbroker is your access to the market. They are licensed to trade share and other instruments like commodities, indices and currencies. Typically, you will need millions to invest in stocks, but the stockbroker buys in large quantity and allows individuals open mini trading accounts with little capital.
There is a list of licensed stockbrokers by the Nigerian Stock Exchange (NSE) and the Security and Exchange Commission (SEC). Here is a list of licensed stock brokers with the NSE coned from the NSE Website >>http://locals.com.ng/list-of-active-members-stock-traders-with-the-nigerian-stock-exchange/<<
Choose a stockbroker that will suit you. Check for their charges and features. Most brokers have apps that allow you trade on your phone; some have various other tools that aid your trading. Choose the one that suits your trading style.
The requirement for opening an account is no different from those you need to open a bank account.
Fund your account
After opening your account, you need to fund it to be able to place order for shares. The MTN Nigeria share has a price of N90/share, so you have to furnish your account with enough funds to purchase as much shares as you want. You can chat up your broker to know of any charges and make enquiries if you are confused.
Place your orders
The final step of the process is to place your orders. As stated earlier, most stockbrokers have online platforms where you can easily place your orders. However, if you find it difficult getting through with it, then simply email your broker to place the orders for you.
Note that each stock broker has a minimum number of shares you can buy. Some allow as low 5,000, 10,000, and upwards.
The MTN Nigeria share rose by 10 percent at the close of market yesterday Thursday May 16, 2019, giving it a market value of 2.01 trillion naira. There is a massive rush for MTN shares and the time to invest is now.