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Airtel Africa Bolsters Market Cap Of Stocks Worth Over One Trillion By N169.12 billion

The combined market capitalization of the stocks worth over one trillion (SWOOTs) appreciated by 1.17% to close at N14.60 trillion from N14.43 trillion the previous week, reflecting a gain of N169.12 billion. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE and MTNN Plc.



Of the 5 stocks, only AIRTEL AFRICA Plc appreciated by 6.3% week-on-week to close at N760.00 from N715.00 per share.

Airtel Africa Plc – N760.00
Airtel Africa Plc ended the trading week with a market capitalization of N2.86 trillion from N2.69 trillion the previous week at N760.00 per share, as the share price also appreciated from N715.00 the previous week, reflecting a percentage increase of 6.3% week-on-week.



During the week, the company announced an offer to buy out Airtel Nigeria minorities. In a corporate disclosure, it was announced that its subsidiary Airtel Networks Limited, has initiated a process under which it seeks to buy back the 8.27% minority shareholdings at an offer price of NGN 55.81 per share.

The company’s Q2 2021 unaudited results for the period ended June 30th, 2021 shows a profit before tax of 133 per cent to $259 million while profit after tax went up by 149 per cent to $142 million. Airtel Africa Plc announced a revenue growth of nearly 31%, to $1.1 billion.



Other companies under the SWOOT classification remained unchanged in share prices and their performances are summarized below.

BUA Cement Plc – N66.00
BUA Cement Plc share price remained unchanged to close at N66.00 per share, with the market capitalization at N2.24 trillion at the end of the trading week.

The company released its financial report for Q2 2021, reporting a revenue of N63.09 billion, reflecting a growth of 33.41% from N47.29 billion in 2020. Similarly, net income increased by N6.16 billion, reflecting a 41.43% increase from N14.87 billion recorded in the corresponding period of 2020 to N21.03 billion in the current period.

Nestle Nig Plc – N1,480.00
Nestle Nigeria Plc’s share price remained unchanged to end the week at N1,480.00 despite sell-offs and buy-interests during the trading week. The Fast-Moving Consumer Goods company currently has a market capitalization of N1.17 trillion. Nestle Nigeria Plc is the only company under the NGX Consumer Goods Index to be worth over a trillion.

The Board of Nestle Nigeria Plc approved a final dividend payment of N28.14 billion representing N35.50 per share which was paid to existing shareholders for the 2020 financial year.

The Q2 2021 financial result revealed a 19.07% growth in revenue from N70.7 billion recorded in Q2 2020 to N84.18 billion.

The consumer goods company, reported a profit after tax of N9.33 billion, reflecting a decline of 12.23% from N10.63 billion in the corresponding quarter of 2020.

Dangote Cement Plc – N280.00
Dangote Cement Plc’s share price stood unchanged to close at N280.00 at the end of the trading week while the company’s market capitalization stood at N4.77 trillion. The company has a total market capitalization of N4.77 trillion.

Dangote cement Plc is currently the most valued company quoted on the exchange and makes up 30% of the total market capitalization of all stocks worth over one trillion.

The Q2 2021 financial result revealed that revenue grew by 57.20% while net income for the period appreciated by 55.48% from N65.55 billion in Q2 2020 to N101.92 billion in the current period.

MTNN Plc – N174.90
MTNN Plc’ share price, at the end of the trading week, remained unchanged as well to close at N174.90 per share, taking its market capitalization to N3.560 trillion at the end of the five trading sessions of the week. The communications company has a total market capitalization of N3.560 trillion.

The company is the second highest in market value on the Nigerian Exchange Limited (NGX), right after Dangote Cement Plc.

MTNN Plc released its Q2 2021 financial result, reflecting a 24.01% growth in revenue for the period, while profit after tax grew by 49.48% from N94.88 billion in Q2 2020 to N141.83 billion in the current period. The company approved an interim dividend of N4.55kobo to existing shareholders, which was paid on the 27th of August, 2021.



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