By Dipo Olowookere
The N1 trillion market capitalisation club on the Nigerian Exchange (NGX) Limited has welcomed another new member a day after the United Bank for Africa (UBA) was initiated into the cabal.
The new entrant is Access Holdings Plc, a member of the Big Five Banks in Nigeria. The five tier-1 lenders on the NGX are Zenith Bank, Access Holdings, GTCO, UBA and FBN Holdings, collectively nicknamed ZAGUF by this newspaper.
Access Holdings joined the clique on Tuesday after its share price appreciated by 8.93 per cent or N2.30 to N29.70 per unit, according to data obtained by Business Post at the close of transactions.
With a share outstanding of 35,545,225,622 and a closing price of N29.70, its market capitalisation on the stock exchange closed at N1.055 trillion today.
The financial institution, which closed yesterday at N27.40 per share, transacted 85,207,686 units of its stocks on Tuesday valued at N2.5 billion.
Meanwhile, another member of the N1 trillion club, which lost out, FBN Holdings, crawled back into the fold at the close of business today.
FBN Holdings, which hit N1 trillion on December 6, 2023, returned to the group today after its share price rose by 10.00 per cent or N2.60 to settle at N28.60 per unit.
The company has shares outstanding of 35,895,292,792 units at the stock market and with a closing price of N28.60, its market capitalisation closed at N1.027 trillion on Tuesday.
The publicly-quoted firms now in the N1 trillion group include Dangote Cement, UBA, MTN Nigeria, GTCO, Access Holdings, Zenith Bank, Seplat Energy, BUA Cement, FBN Holdings, and Airtel Africa.
Modupe Gbadeyanka