Airtel Africa becomes first company to surpass N5trn market cap on NGX

AIRTEL Africa, has made history as the first company to hit N5 trillion othe Nigerian Exchange Limited (NGX).

On Friday, Airtel Africa became the most capitalised company listed on the NGX, surpassing Dangote Cement, crossed the N5 trillion mark as the stock gained 9.9 per cent to close at N5.4 trillion.

Airtel first surpassed Dangote Cement as the most capitalized stock on Thursday after it gained 10 per cent closing at N1,271. Dangote Cement in contrast fell on Thursday by 8.53 per cent from its 52-week high of N284.90 to close the trading session at N260.60, on profit-taking by investors.

This saw Dangote’s market capitalization fall by N414.1 billion, from N4.86 trillion to N4.44 trillion. It remained flat on Friday, January 28.

It will be recalled that Airtel Africa Plc announced on Thursday that it would, today, 31 January be added to the league of 100 highest capitalised companies listed on  the London Stock Exchange (LSE).

According to a statement by Airtel Africa, the company will be joining the Financial Times Stock Exchange (FTSE 100) index on Monday.

The FTSE 100 index is a share index of the 100 companies listed on the LSE with the highest market capitalisation.

Commenting on this feat, Segun Ogunsanya, CEO, Airtel Africa, said the l achievement has been on the back of all the hard work and success achieved by everyone at Airtel Africa.

‘’I am immensely proud that Airtel Africa will be joining the FTSE 100 only two and a half years after we listed on the London Stock Exchange.