Global index provider, FTSE Russell, has named 10 Nigerian large-cap stocks as newly eligible constituents of its FTSE Frontier Index Series, ahead of Nigeria’s return to the global Frontier Market universe.
The development, contained in FTSE Russell’s September 2026 annual index review, marks a significant step in Nigeria’s planned reclassification from “Unclassified” to “Frontier Market” status, which takes effect from the opening of trading on September 21, 2026.
The 10 Nigerian companies identified as “Newly Eligible” large-cap constituents are Guaranty Trust Holding Company (GTCO), Zenith Bank, MTN Nigeria Communications, Dangote Cement, Stanbic IBTC Holdings, First HoldCo, Nestlé Nigeria, Nigerian Breweries, Presco and Aradel Holdings.
The inclusion cuts across some of the largest and most actively traded companies on the Nigerian Exchange (NGX), with the banking sector accounting for four of the 10 stocks GTCO, Zenith Bank, Stanbic IBTC Holdings and First HoldCo.
Other sectors represented are telecommunications through MTN Nigeria, industrials through Dangote Cement, consumer goods through Nestlé Nigeria and Nigerian Breweries, agriculture through Presco, and oil and gas through Aradel Holdings.
FTSE Russell’s Frontier Index Series provides benchmarks covering large-, mid- and small-cap companies in eligible frontier markets. The indices are used by investors as performance benchmarks and can serve as the basis for index-tracking investment products.
The designation of the Nigerian companies as “Newly Eligible” means the stocks have met the relevant requirements for consideration following Nigeria’s market reclassification. The review changes are scheduled for implementation around the September 21…
Source link
Read Full Article by Kayode Ogunwale at newtelegraphng.com
Source link
