Dangote Cement regains Nigeria’s most valuable listed company title
By the AFREEQUE newsroom, based on Business Day Nigeria
Aliko Dangote’s estimated fortune reached $55.4 billion after Dangote Cement shares rose 5.82%, making it Nigeria’s most valuable listed company again. Its market capitalisation reached 23.96 trillion naira, ahead of Airtel Africa, according to BusinessDay’s analysis based on Forbes and Nigerian Exchange data.
Dangote Cement, Africa’s leading cement producer listed on the Nigerian Exchange, regained its position on Thursday as the most valuable company among the 146 firms on Nigerian Exchange Limited, with a market capitalisation of 23,960 billion naira. Its share price rose 5.82% to 1,420 naira, according to Nigerian Exchange data reported by BusinessDay.
The group overtook Airtel Africa, whose market capitalisation stands at 23,680 billion naira, while MTN Nigeria is in third place with 17,300 billion naira. Total Nigerian market capitalisation reached a record 164,970 billion naira and the All-Share Index rose to 254,083 points, from 252,882.78 points previously, according to BusinessDay.
The rise in Dangote Cement also took the estimated fortune of its founder, Nigerian businessman Aliko Dangote, to $55.4 billion, $4.4 billion more than on 20 October. He remains the world’s 35th-richest person, according to BusinessDay’s analysis based on Forbes’ real-time ranking.
The increase follows Dangote Cement’s share market value exceeding 20 trillion naira on 27 October. On the same day, the Dangote refinery IPO attracted subscriptions worth three times the amount sought.
