Nigeria’s four most capitalised companies have grown 100.77 percent to worth over N12.99trn by market capitalisation in March 2020, according to findings by THE WHISTLER.
The four companies under the trillion naira club were initially listed with a combined market capitalisation of N6.471trn, but have added N6.52trn between listing date to March 2021.
The companies include Dangote Cement Plc, Airtel Africa Plc, MTN Nigeria Plc and BUA Cement Plc.
Nigeria’s most capitalised stock, Dangote Cement’s market capitalisation has grown 32.6 per cent to N3.748trn by the close of trade on Friday, March 12, 2021.
By August 2019 when the company reclaimed its position from MTN as most capitalsed stock, the Market Capitalisation peaked at N2.823trn.
The company which was listed on the exchange in 2010 has its stock price close at N220 on March 12, 2021. Dangote’s initial market capitalisation was N2.1trn.
AIRTEL Africa Plc has upturned MTN Nigeria’s lead as second most capitalised stock with a peak of N3.49trn market capitalisation.
The company’s capitalisation has grown by 156.6 per cent by March this year, compared to the N1.36trn when it was listed.
Airtel was listed in July 2019 at an offer price of N363, but has surged to N930 by March 12 this year.
After being displaced at the second place, MTN Nigeria Communication Plc has become the country’s third most capitalised stock at the Nigerian Stock Exchange with N3.216trn.
Based on findings, MTN has grown 75.64 per cent after being listed with market capitalisation of N1.831trn
The telecom giant was listed at the NSE in May, 2019 at the rate of N90, but today, the company closed at N158.
BUA Cement Plc, Nigeria’s fourth most capitalised stock with N2.531trn, representing a growth of 114.4 per cent from the date of listing.
The cement manufacturer was listed on the NSE in 2020 with a share price of N35 and market capitalisation of N1.18trn.
The company’s share price has risen to N74.75 in March 2021.