The three biggest companies listed on the nation’s stock exchange gained a total of N1.15tn last year, data obtained from the Nigerian Exchange Limited have shown.
The companies, namely Dangote Cement, MTN Nigeria Communications Plc and Airtel Africa Plc, accounted for 53.72 per cent of the market capitalization of equities on the NGX as of the end of December.
A clear analysis of data obtained from the NGX showed that the five biggest listed companies boosted their combined market capitalization by N520bn in April to N14.51tn.
The market capitalization of all the 157 companies listed on the NGX reached N22.30tn as of December 31, 2021, compared to N21.06tn at the end of 2020.
Dangote Cement, the country’s biggest listed company, saw its market cap grow to N4.38tn at the end of last year from N4.17tn on December 31, 2020.
MTN Nigeria added to its market value to N4.01tn on December 31, 2021 from N3.46tn a year earlier while that of Airtel Africa rose to N3.59tn from N3.20tn. BUA Cement Plc and Nestle Nigeria Plc were the fourth and fifth biggest companies on the stock exchange as of December 31, 2021.
The listing of the company’s 18 billion ordinary shares added N720bn to the market capitalization of the NGX, further boosting liquidity in the Nigerian capital market and providing more opportunities for wealth creation.
The Chief Executive Officer, NGX, Mr Temi Popoola , said the bourse will strengthen the value proposition for corporates to consider the capital markets as a platform for raising capital.
He said, “Just as importantly, it is important that we work closely with policymakers to shape reforms and policies that are supportive of listing activity and the capital market at large.
“For example, many of the listings on the exchange today occurred as a result of government-related policy that was supportive of listing activity. At NGX, we are keen to provide a platform for both public and private sector players to raise capital to achieve their business objectives and achieve greater success in resource optimization.”
