August 12, 2022

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Airtel overtakes Dangote Cement as Nigeria’s most capitalised firm


Dangote Cement misplaced the primary place to Airtel Africa as probably the most capitalized firm listed on the inventory change regardless of a optimistic motion in its share value within the first half of 2022.

The cement producing big grew its market capitalisation from N4.38 trillion recorded as of December 2021 to N4.69 trillion in June 2022, representing an appreciation of N306.7s3 billion.

Telco big, Airtel Africa moved from third place six months in the past to seize the place as probably the most capitalized firm in Nigeria based mostly on information on the NGX with a market valuation of N6.51 trillion having recorded stellar progress in its share value within the first half of the 12 months.

The market worth of Airtel rallied by 81.38 per cent within the six-month interval, representing a capitalization acquire of N2.92 trillion from N3.59 trillion recorded as of December 2021.

MTN Nigeria as of the tip of the primary half of the 12 months has a market valuation of N4.68 trillion, dropping by one place from second place on the finish of final 12 months to the third place.

That is regardless of the 16.75 per cent improve in its market capitalization from N4.01 trillion. Nevertheless, its trade competitor outpaced each MTN and Dangote Cement to the golden place on high.

By way of market worth, the 2 quoted telecommunication corporations led the chart, after Airtel Africa noticed its market capitalization surge by N2.92 trillion within the first six months of the 12 months, accounting for 51.8 per cent of the entire market acquire within the evaluation interval.

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MTN Nigeria adopted in the identical vein, gaining N671.69 billion in market valuation.  Seplat Power, Dangote Cement, and BUA Meals gained N382.49 billion, N306.73 billion, and N270 billion respectively.

On the flip facet, GT Financial institution recorded the best loss, with a decline of N161.87 billion in its market valuation, adopted by Nestle Nigeria and Zenith Financial institution with N124.05 billion and N108.32 billion losses respectively.

The ICT sector boasts of a valuation of N11.21 trillion as of June 2022, accounting for 40.1 per cent of the complete equities market. The sector recorded a progress of N3.59 trillion within the first six months of the 12 months from N7.62 trillion recorded as of the tip of December 2021.