MTC’s share price up on first day of trading

19 November 2021 | Economics

Jo-Maré Duddy – The share price of Mobile Telecommunications Ltd, which listed on the Namibian Stock Exchange (NSX) this morning, rose by 3.1% on its first day of trading on the Local Index.
MTC’s shares were available at N$8.50 a piece in its initial public offering (IPO). The share closed at N$8.76 this afternoon.
That gives MTC a total market capitalisation of N$6.57 billion, making it the fourth biggest company on the Local Index. Namibia Breweries, with a total market capitalisation of N$10.326 billion, is the biggest, followed by FirstRand Namibia (N$7.894 billion) and Capricorn Group (6.827 billion).
A total of 10 000 MTC shares were traded today. The highest price during intra-day trade was N$8.90 per share, and the lowest was N$8.50.
In total, shares worth N$87 450 were traded during MTC’s debut day.