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Wealth Intelligence: The Index Effect — Why Nigeria's Return to FTSE's Frontier Index Rewards Dangote and First HoldCo but Leaves Out BUA, UBA and Seplat

Nigeria rejoins FTSE's frontier index on Sept 21, sending global passive capital to ten giants — Dangote Cement, First HoldCo, MTN. But BUA, UBA and Seplat were left out on free float, not size. The paradox: the concentration that makes these owners rich keeps their companies out.

,   and  Mfonobong Nsehe
5 min read
Wealth Intelligence: The Index Effect — Why Nigeria's Return to FTSE's Frontier Index Rewards Dangote and First HoldCo but Leaves Out BUA, UBA and Seplat

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Nigeria rejoins FTSE's frontier index on September 21, handing ten of its giants — Dangote Cement, First HoldCo, MTN — a wave of global passive capital, while BUA, UBA and Seplat are left out. And Aliko Dangote said his refinery's $5 billion IPO, set to be Africa's largest, opens within twelve days.

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