Dangote Cement Plc has regained its spot as the largest company on the Nigerian Stock Exchange (NSE) after losing it to MTN Nigeria Communication Plc on Monday.
MTN Nigeria had overthrown Dangote Cement, becoming the most capitalised company on the NSE just three months after its listing, as its share price increased to N138.70 from N135 on Friday.
MTN led with N1bn as its market capitalisation stood at N2.82tn as against Dangote Cement’s N2.81tn.
As of Monday, Dangote Cement’s shares closed at N164.5 on NSE.
But on Tuesday, Dangote Cement saw a 0.91 per cent increase in its share price from N164.50 on Monday to N166 on Tuesday, which pushed its market capitalisation to N2.83tn, compared to MTN’s market capitalisation of N2.69tn.
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MTN Nigeria, which listed on the NSE in May, came in with market capitalisation of N1.3tn, leaving a N782bn margin between Dangote Cement.
It had maintained its spot as the second most capitalised company on the NSE, until Monday when it overtook Dangote Cement.
At the end of trading on Tuesday, MTN was pushed back to its second position as the margin between MTN Nigeria and Dangote Cement stood at N130bn in favour of Dangote Cement.