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8 Elite Companies Control Nearly Half of Stock Market with N11trn

Omotayo Daranjo by Omotayo Daranjo
January 13, 2022
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Eight companies listed on the Premium Board of the Nigerian Exchange Limited (NGX), otherwise known as elite issuers, account for 49.2 percent of the total equities market capitalization at the end of 2021.

The companies, which also comprise some of the most capitalized stocks in the Exchange, recorded 20.1 percent returns during the year.

The companies are Dangote Cement Plc, MTN Nigeria Communication Plc, Seplat Energy Plc, Lafarge Africa Plc, FBN Holdings Plc, Zenith Bank Plc, Access Bank Plc and United bank for Africa (UBA) Plc.

Specifically, the companies account for N10.961 trillion of the N22.297 trillion equities capitalization, representing 49.2 percent of the equities market size during the period.

According to the NGX, the Premium Board is the listing segment for the elite group of issuers that meet the Nigerian Exchange’s most stringent corporate governance and listing standards.

Eight companies listed on the Premium Board of the Nigerian Exchange Limited (NGX), otherwise known as elite issuers, account for 49.2 percent of the total equities market capitalization at the end of 2021.

The companies, which also comprise some of the most capitalized stocks in the Exchange, recorded 20.1 percent returns during the year.

The companies are Dangote Cement Plc, MTN Nigeria Communication Plc, Seplat Energy Plc, Lafarge Africa Plc, FBN Holdings Plc, Zenith Bank Plc, Access Bank Plc and United bank for Africa (UBA) Plc.

Specifically, the companies account for N10.961 trillion of the N22.297 trillion equities capitalization, representing 49.2 percent of the equities market size during the period.

According to the NGX, the Premium Board is the listing segment for the elite group of issuers that meet the Nigerian Exchange’s most stringent corporate governance and listing standards.

“The Board is a platform for showcasing companies that are industry leaders in their sectors.

“Premium Board features companies that adhere to international best practices on corporate governance and meet NGX’s highest standards of capitalization and liquidity.

“A Premium Board listing gives a company access to a global pool of investors who are focused on companies managed in conformity with the highest standards in their target markets,” NGX explained.

Tags: 8 ELITE COMPANIESCONTROL NEARLY HALF OF STOCK MARKET

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