Nigeria's Dangote Cement market cap surges to N13trn
TLDR
- Dangote Cement achieves market valuation of N13 trillion, surpassing BUA Cement.
- BUA Cement also experiences a surge in market valuation, but Dangote retains a significant lead.
- Dangote's market capitalization highlights its dominance over competitors, including Lafarge Africa.
Dangote Cement, Nigeria's leading cement producer, has achieved an impressive market valuation of N13 trillion (around $13 billion), showcasing a significant lead over its closest competitor, BUA Cement Plc.
The market value of BUA Cement is noted to be less than half of Dangote's, even though it has also experienced a surge in market valuation, with investors attributing a substantial value to the company in relation to its earnings.
This substantial lead in market capitalization not only highlights Dangote Cement's dominance over BUA in terms of market cap but also emphasizes its substantial size advantage over the third-largest cement producer in the country, Lafarge Africa.
Key Takeaways
The combined market capitalization of Dangote Cement, BUA Cement, and Lafarge Africa amounts to approximately N20 trillion. Notably, Dangote Cement contributes an impressive 65%, or two-thirds, to this total. The recent surge in Dangote Cement's share price has played a pivotal role in the substantial growth of the company's valuation. In the last two weeks alone, its share price has soared by 100% year to date. This surge has had a significant impact on the overall market capitalization of the NGX, which currently stands at around N57.8 trillion. An additional catalyst for this remarkable increase in share price was the news of Femi Otedola acquiring shares in Dangote Cement. This development, initially reported by Nairametrics and later confirmed by the billionaire himself, further fueled the positive momentum surrounding the company's stock, contributing to its impressive market performance.
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