Dangote Cement achieved a remarkable milestone as its market capitalization soared to N11.107 trillion, constituting approximately 20.6% of the Nigerian Stock Exchange (NGX) equity market. The company’s stock, trading at N651 per share on the NGX, closed with a notable 10% gain from its previous closing price of N592.60.
Throughout the year, Dangote Cement has demonstrated outstanding performance, starting at a share price of N319.90 and marking a significant 104% gain. This places the company in the second position on the NGX for year-to-date performance. Earlier this month, it surpassed Airtel Africa as the most valuable stock on the NGX.
Dangote Cement is the 78th most traded stock on the Nigerian Stock Exchange over the past three months, from October 24, 2023, to January 23, 2024. It has recorded a total trading volume of 46.4 million shares in 7,360 deals, valued at N17.8 billion. The average traded shares per session stand at 736,993. Notably, it achieved a volume high of 16.5 million on December 1st and a low of 10,446 on November 24th during the same period.
Femi Otedola, a prominent investor and Chairman of Geregu Power Plc, recently disclosed his acquisition of Dangote Cement shares worth over N6 billion. His decision was fueled by a vision of long-term wealth preservation, belief in the company’s potential for economic development, and a commitment to shareholder value.
Otedola emphasized his confidence in Dangote Cement’s capacity to contribute significantly to Nigeria’s and Africa’s industrial and economic progress. His strategic investment aligns with focusing on long-term wealth preservation and ensuring shareholders reap the rewards of a company’s success.
