Dangote Cement’s market capitalization surpassed N10 trillion at the conclusion of trade on Monday, making it the first business to reach that milestone on the Nigerian Exchange.
It concluded trading with a market capitalization of N10.098 trillion, having gained N917 billion.
This month, it surpassed Airtel Africa as the highest capitalised firm on the local exchange. In terms of capital gains, investors in Dangote Cement stocks saw their wealth increase by 85.25 percent.At the closing of trade on Monday, its share price was N592.60 per unit.
The company closed in 2023 with a market cap worth N5.451tn.
According to HowNG, equity investors in Dangote Group firms’ equities have earned more than 1.2tn in the first two trading days of the week after the Dangote Petrochemical Refinery began production.
Dangote Cement Plc, Dangote Sugar Refinery Plc, and NASCON Allied Industries Plc are among the listed companies; the latter is now undergoing a merger with Dangote Rice Limited.
Several observers expected Dangote Refinery to be listed this year, along with Dangote Foods (a result of the Dangote firms’ merger) and NNPC Limited.
Dangote praised the start of production at the refinery as “a game changer” and “an important achievement for our country because it demonstrates our ability to develop and deliver large capital projects.”
In November, the conglomerate’s billionaire owner announced ambitions to list the $20 billion Dangote Petrochemical Refinery on the NGX.