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Mad Returns: Airtel adds N1.12 trillion in market cap in the last week of May 2022

Airtel shareholders earn N300 billion on acquisition of new spectrum from NCC

Airtel’s share price posted gains of 20.20% last week, becoming one of the top gainers of the trading week as investors react bullishly to a corporate announcement that revealed that the firm’s subsidiary, SmartCash Payment Service Bank Limited (‘SmartCash PSB’), has commenced operations in Nigeria.

In the last four weeks, we have seen AIRTELAFRI gain 34% to currently stand at N1,767 per share. Its market capitalization currently stands at N6.64 trillion, also gaining over 20%, making the firm the most capitalized company listed on the Nigerian exchange.

Airtel is one of the top performers in what turned out to be a very bullish and record-breaking week for the Nigerian Exchange, as its All-Share Index gained 2.09% to currently stand at 54,085.30 basis points, the highest point for the year. For the first time since July 2008, the NGX crossed the 54,000 BP threshold on the back of strong earnings reports and increased local participation.

During the trading week, 23 equities appreciated in price during the week, lower than the 37 equities in the previous week. 54 equities depreciated in price, higher than 42 equities in the previous week, while 79 equities remained unchanged higher than 77 equities recorded in the previous week.

What you should know

AIRTELAFRI is the 99th most traded stock on the Nigerian Stock Exchange over the past three months. It has traded a total volume of 6.73 million shares, in 1,577 deals, valued at N9.56 billion over the period, with an average of 106,772 traded shares per session.

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