Airtel Africa Surpasses N5 Trillion Market Capitalization, More Than Dangote Cement
- One of the leading telecoms company in Nigeria, Airtel has surpassed the N5 trillion market capitalisation at the Nigeria stock Exchange
- Airtel surpassed one of the most capitalised companies, Dangote Cement on Friday, January 28, 2022 by N5.4 trillion
- Airtel has been having a bullish run since the beginning of the year, outpacing Dangote Cement by close to 10 per cent.
Airtel Africa which is a member of the SWOOT, that is, Stocks Worth Over One Trillion, is now the most capitalised company listed on the Nigerian Stock Exchange, surpassing Dangote Cement, owned by Aliko Dangote, Africa’s richest man.
The biggest company in Nigeria
It was the second-biggest telecoms company in Nigeria to cross the N5 trillion mark for the first time on Friday, January 28, 2022, as the stocks gained 9.9 per cent to close at N5.4 trillion. It is a watershed as this is the first time any Nigerian company has crossed the N5 trillion threshold.
The company overtook Dangote Cement as the most capitalised stock on Thursday, January 27, 2022, after gaining 10 per cent, closing at N1,271 per share.
Dangote Cement fell by 8 per cent 8.53 per cent from its 52-week bliss of N284.90 to close the trading session at N260.60 on profit-taking by investors, reports Nairametrics.
Dangote Cement market cap fell by N414.1 billion, from N4.86 trillion to N4.44 trillion. It remained flat on Friday, January 28, 2022.
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Great profit
Airtel gained almost 10 per cent, taking its share value to N1.300 as it resumed its bullish run. The company’s share price has earned over 46 per cent this year behind the improved operational performance, share buybacks, and investor feelings.
Dangote Now Richer Than Over 30 African Countries
Legit.ng has reported that Africa’s richest man, Aliko Dangote’s worth has risen by N8.4 trillion due to recent demands for his cement unit, Dangote Cement and the recently completed fertilizer plant.
According to a Bloomberg's report, his wealth surged to $20.1 billion (N8.4 trillion) last Friday.
Bloomberg’s Billionaire Index put his networth at $26.27 billion (N11 trillion) which he achieved in 2014.
Source: Legit.ng
