FTSE Russell Lists First HoldCo, Dangote Cement, MTN Nigeria, Zenith, GTCO, Others in Frontier Index Series
Kayode Tokede FTSE Russell has admitted 10 Nigerian companies worth N67.14 trillion by market capitalisation in its FTSE Frontier Index Series after reclassification of the country from “Unclassified” to “Frontier
FTSE Russell has added 10 Nigerian companies to its FTSE Frontier Index Series, marking the country's return to Frontier Market status after a three-year absence. The companies, valued at a combined N67.14 trillion, include Dangote Cement, MTN Nigeria Communications, and First Holdco. This reclassification follows significant improvements in Nigeria's foreign exchange liquidity, capital repatriation, and market accessibility.
The FTSE Frontier Index Series provides benchmarks for large, mid, and small cap companies across eligible Frontier markets, serving as a performance benchmark for investors and a basis for index tracking products.
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