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MTN Nigeria drops 10% after low IPO pricing -Breaking

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© Reuters. FILE PHOTO – The MTN logo is seen in Abuja (Nigeria), September 11, 2018. REUTERS/Afolabi Sotunde/File Photo

ABUJA, Reuters – MTN Nigeria dropped 10% to 171 naira for the fifth week after setting a retail public sale price which is lower than the share price at its stock exchange.

MTN’s Nigerian subsidiary opened for retail on Wednesday with a share price of 169 Nigerian naira.

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