MSCI includes MTN Nigeria in frontier market index

…as inclusion announcement spike stock price

Morgan Stanley Capital International (MSCI), an independent provider of research driven insights tools and indices for investors, has included MTN Nigeria in its frontier market indexes.

The agency disclosed this in a statement titled “MSCI Equity Indexes August 2019 Index Review” issued Wednesday in London.

“There will be one addition to and no deletions from the MSCI Frontier Markets
Index. The addition to the MSCI Frontier Markets Index will be MTN Nigeria Communications (Nigeria),” the statement partly read.

Following the announcement, the telecoms company’s stock increased 1.33 percent when market opened for trading in Lagos, Thursday morning.

As at 11:48am the stock was priced at N128.3 per share. It was trading at a day’s high of N128.4 per share and a day’s low of N127 per share, according to the data from the Nigerian Stock Exchange.

Other results of the August 2019 quarterly index review for the MSCI equity indexes, includes the MSCI Global Standard, MSCI Global Small Cap and MSCI Micro Cap Indexes, the MSCI Global Value and Growth Indexes and the MSCI Frontier Markets and MSCI Frontier Markets Small Cap Indexes.

Others are the MSCI Frontier Emerging Markets Index, the MSCI Global Islamic and MSCI Global Islamic Small Cap Indexes, the MSCI Pan-Euro and MSCI Euro Indexes, the MSCI US Equity Indexes, the MSCI US REIT Index, the MSCI China A Onshore indexes and the MSCI China All Shares Indexes.