MTN N50bn Commercial Paper Issuance: The Shocking Truth Revealed!

MTN N50bn Commercial Paper Issuance

MTN Nigeria has shared plans to raise N50 billion. This will be done through its Series 13 and 14 Commercial Papers. These papers are part of its larger N250 billion Commercial Paper programme.

Recently, MTN Nigeria issued Series 11 and 12 Commercial Papers. The goal was to raise N50 billion, but the company secured N75.18 billion due to high investor interest. This shows investors trust MTN Nigeria.

The money from the new issuance will help MTN Nigeria meet short-term needs. This includes funding daily operations and managing business costs.

MTN Financial News

MTN Nigeria has reported its financial results for the first nine months of 2024. Revenue for this period grew by 33.69%, reaching N2.370 trillion. This is higher than the N1.772 trillion earned in the same period in 2023.

However, profits are down. Operating profit dropped by 21.76%. It fell to N475.304 billion from N607.498 billion in 2023.

Losses before tax increased sharply. They rose by 7,146.45%, moving from N9.848 billion in 2023 to N713.630 billion in 2024. Losses linked to the company’s owners also grew. These losses increased by 3,503.58%, reaching N513.942 billion in 2024.

Loss Per Share Update

MTN Nigeria also reported losses per share. Basic and diluted losses per share rose by 3,503.58%. The loss grew from 68 kobo in 2023 to N24.51 in 2024.

MTN Stock News

On Tuesday, November 26, 2024, MTN Nigeria’s stock price was N170 per share. A day earlier, it closed at N172 per share. The stock price has dropped by 34.85% since the start of the year.

MTN Nigeria has 20,995,560,103 shares in the market.

Why MTN Issues Commercial Papers

MTN Nigeria uses its Commercial Paper programme to raise funds quickly. These funds are important for meeting business needs. This strategy helps the company stay strong during financial challenges.

The N50 billion Series 13 and 14 issuance is part of this plan. It shows MTN’s focus on keeping the business running smoothly.

MTN News: A Look Ahead

Despite its losses, MTN Nigeria remains active. The company keeps exploring ways to manage its finances. The latest issuance highlights this commitment.

The success of earlier issuances also reflects investor confidence. Many investors believe MTN Nigeria can improve its financial health.

As MTN Nigeria uses the funds, investors will watch for results. They expect the company to overcome losses and move toward growth.

This MTN news shows the company’s efforts to adapt and stay strong in tough times. While challenges exist, MTN Nigeria continues to find ways to fund its operations and secure its future.