Dangote Cement First To Hit N10trn Market Capitalisation

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At the close of business on Monday, Dangote Cement became the first to hit N10 trillion market capitalisation. By the end of trading, the company’s shares gained 9.99% with a share price of N592.60, thus reaching a market cap of N10.095 trillion, and becoming the first Nigerian company to hit this significant, earthshaking milestone.

Earlier in the equities market, the company recorded a remarkable performance with a year-to-date return of 85.2%, moving from a share price of N319.9 at the start of 2024 to N592.6 at the close of trading on Monday. It also recorded capital gains of N4.644 trillion, as its share price went up from N5.451 trillion at the start of 2024 to N10.095 trillion, as of January 22, 2024.

Last year, Dangote Cement was third on the list of the companies with the highest market capitalisation in the NGX, behind Airtel Africa, and MTN Nigeria with market caps of N7.09 trillion and N5.543 trillion, respectively.

And just this January 2924, it displaced Airtel Africa as the most capitalised stock on the local stock exchange platform. With a market capitalisation of about N10.095 trillion ($11.19 billion, with exchange rate of N902.45/$), Dangote Cement has no doubt propelled itself into the list of the largest companies in Africa based on market capitalisation.

Dangote Cement is the only Nigerian company that made it to the top ten largest African companies list, based on market cap; the rest are South African companies.

 

 

 

 

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