Geregu in, FBN Holdings Out as 12 Listed Companies Hit N1trn Market CAP as of January 18th 2024
As a follow-up to our commentary published on Wednesday, January 10th 2024, and based on data available on the Nigerian Exchange, about twelve (12) quoted companies have now hit the N1trn Market Capitalisation mark as of January 18th 2024.
Dangote Cement Plc topped the list with N9.25trn Market CAP, followed by Airtel Africa and MTN Nigeria with N7.52trn and N6.05trn, respectively. Others on the list are BUA Cement Plc (N4.57trn); BUA Foods Plc (N4.32trn); Zenith Bank (N1.39trn); Seplat (N1.36trn); GTCO (N1.34trn); Geregu Plc (N1.17trn) UBA Plc (N1.06trn); Access Holdings Plc (N1.05trn) and Transcorp Hotels Plc (N1.02trn)
Four companies from the Financial Services sector dominated the list as two from Industrial Goods and ICT sectors also make it into the list. Other sectors represented are Consumer Goods, Services, Oil & Gas, and Utilities, all have (1) each.
As of the time of publishing our last commentary on January 10th 2024, Geregu and Transcorp Hotels Plc were both in the list of companies near the N1trn Market CAP while FBN Holdings Plc that has now dropped off the N1trm Market CAP list has a Market CAP N1.03trn as of January 9th 2024.
It is important to note and watch out for the following four (4) companies as they near the N1 trn Market CAP mark. Top among the four companies is FBN Holdings Plc with N967.38bn Market CAP, followed closely by Nestle Nigeria Plc, Dangote Sugar Refinery Plc and Stanbic IBTC Holdings Plc with N948.02bn, N929.24bn and N842.20bn in that order.
