The chairman of the Dangote Group, Aliko Dangote gained a whopping N43 billion from his Dangote Cement Plc stake in a single session on the Nigerian Exchange Limited, as local investors rallied up the cement producer shares after recording a price decline the previous trading day.
The richest man in Africa currently holds the majority stake in Dangote Cement Plc, to tune of 27,642,637 direct holdings and 14,621,387,610 indirect holdings, out of the 17.04 billion total issued shares of the company.
Dangote’s stake is presently worth about N3.74 trillion, up from N3.69 trillion as at the end of market on Friday 10th of December 2021.
The gains were driven by buy-interests in the shares of the cement company which saw the share price increase by 1.19% in a single session, from N252 per share at the open of the market, to N255 per share at the close of the market.
This, in turn, pushed its market capitalization up by N51.12 billion on the exchange, from N4.29 trillion to N4.35 trillion at the close of trading activities on Nigeria’s stock exchange.
Stock performance summary
The shares of Dangote Cement Plc have advanced by 4.12% from year-to-date, starting the year at N244.90 and currently traded at N255.00. However, the shares of the company have returned about 35.64% gains for investors who bought them at their 52-week low trading price of N188.00 per share.
During today’s trading hours, 2,951,987 ordinary shares of Dangote Cement Plc worth about N745.98 million, were exchanged in 168 executed deals.
What you should know
At the end of today’s trading activities, the NGX All-Share Index and market capitalization appreciated by 1.26% from the previous trading day, to close at 42,411.12 index points and N22.13 trillion respectively.
The NGX Industrial Goods Index appreciated by 0.66% to close the day at 2,086.92 points from 2,073.32 index points.
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