Dangote Cement surpasses N10trn capitalisation as market rallies

Dangote Cement Plc equities capitalisation reached all time high of N10.098trillion on Monday, further driving the market’s positive close on Monday January 22.

Dangote Cement stock price has risen this year by 85.2 percent. Nigeria’s billionaire investor Femi Otedola recently acquired significant shares in Dangote Cement, noting that his acquisition of Dangote Cement shares underscores the company potential.

Dangote Cement has 17,040,507,405 shares outstanding, each valued value at N592.60 as at close of trading on Monday.

It rose from preceding day’s low of N538.80, up by N53.80 or 9.99percent; followed by Eterna which moved from N22.95 to N25.20, adding N2.25 or 9.80percent, and Cutix which increased from N2.70 to N2.94, adding 24kobo or 8.89percent.

The stock market increased by 1.30 percent, pushing this year’s return to new high of 28.08percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased further from 94,538.12 points and N51.735 trillion respectively to 95,768.12 points and N52.408trillion.

In 15,757 deals, investors exchanged 721,813,844 shares worth N14.407billion.

Otedola emphasises long-term wealth preservation, export potential and shareholder value in Dangote Cement share acquisition.

Dangote Cement is the only cement company in Nigeria with two export terminals, with a combined export capacity of 8 million tons per annum.

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