By Dipo Olowookere
Dangote Cement has reclaimed its position as the most capitalised company listed on the Nigerian Stock Exchange (NSE), 24 hours after it lost the spot to MTN Nigeria Communications Plc, which joined the local bourse over three months ago.
On Monday, MTN Nigeria finally displaced Dangote Cement from the position after threatening the cement maker for weeks.
This was after the telco closed yesterday at N138.70k per share to finish with a market capitalisation of N2.83 trillion, while Dangote Cement traded at N164.50k per unit to settle with a market capitalisation of N2.80 trillion.
However, at Tuesday trading session, shares of Dangote Cement rose by N1.50k to finish at N166, leaving the market value of the cement firm at N2.83 trillion, while MTN Nigeria lost N6.10k today to trade at N132.60k, leaving it with a market value of N2.70 trillion.
Business Post reports that while Dangote Cement has shares outstanding of 17.0 billion units, MTN Nigeria has 20.4 billion units.
Both companies are listed on the premium board of the NSE and are major movers of the market, with their performance having effect on the general market outcome.
Airtel Africa remains the third most capitalised company on the NSE, with a market value of N1.22 trillion and share outstanding of 3.8 billion units. The stock traded flat today at N323.50k per unit.
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