By Dipo Olowookere
As at the close of transactions on Friday, May 31, 2019, Dangote Cement was the most capitalised company listed on the Nigerian Stock Exchange (NSE).
Business Post reports that when the market closed for business last week, the total value of the leading cement maker was N3.400 trillion.
The firm, which is listed on the Premium Board of the NSE, had its shares traded at N199.50k per unit. The company has a total of 17.041 billion outstanding shares on the exchange.
Some days ago, the number one position occupied by Dangote Cement was under threat after MTN Nigeria listed 20.355 billion units of its shares on the Premium Board of the NSE.
The telco company was looking to overtake Dangote Cement when value of the shares was gaining momentum until the bubble was punctured as a result of allegations against the company and the reports of a raid on the head office of the firm by the Economic and Financial Commission (EFCC), which was investigating the listing of the organisation on the exchange.
However, MTN Nigeria is occupying the position of the second most capitalised firm on the nation’s stock exchange.
At the close of transactions last Friday, the market capitalisation of the telco was N2.778 trillion, with shares of the company traded at N136.50k each.
Taking the third spot is Nestle Nigeria, which was displaced by MTN Nigeria from the second position two weeks ago.
The consumer goods company, which is listed on the main board of the NSE, is worth N1.149 trillion at the moment.
The firm has shares outstanding of 792.656 million units trading at N1,450 per unit. The company’s stocks are the most expensive on the NSE.
How long will Dangote Cement remain on the top spot is what some observers cannot guarantee at the moment as a result of the huge threat MTN Nigeria poses.
