Airtel Africa Bigger Than All 14 Nigerian Banks Quoted on the Stock Exchange

Airtel Africa Bigger Than All 14 Nigerian Banks Quoted on the Stock Exchange

  • Airtel Africa has taken the lead as the most capitalised company on the floor of the Nigerian Exchange
  • The company's market capitalization stands at N5 trillion way above the N3.77 trillion of the whole 14 biggest banks in Nigeria
  • The telecoms share price traded at N1, 271 per share and a high of N1, 390 on the floor of the exchange to surge to N4,78 trillion in value

Airtel Africa is now bigger than 14 Nigerian banks that are trading on the Nigerian Stock Exchange as it saw its stocks soar to N4,78 trillion in value.

Favoured by investors

Following a favourable week, the telecoms company saw its share price increase by 10 per cent, closing the week at N1, 271 per share, despite trading as high as N1, 390 on the floor of the exchange to hit N5 trillion market capitalization.

Read also

Google seeks to acquire stakes in Airtel, invests N415 billion

Airtel now bigger than biggest Nigerian banks
Airtel now bigger than biggest Nigerian banks
Source: Getty Images

As its stands, the company is bigger than all the 14 banks trading on the floor of the Nigerian exchange which has a combined market capitalization of N3.77 trillion.

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Bigger by far

As of Friday, January 28, 2022, Airtel closed the trading session with a market cap of N4.78 trillion, N1.1 trillion more than all the 14 banks combined.

The feat is due to the buy-in-interests in the shares of the India-owned telecoms company during the week.

The company overtook Dangote Cement to rank as the most capitalised company on the floor of Nigerian Exchange Limited (NGX). The company which has one of the biggest coverage in Nigeria is set to upstage the market leader in Africa, MTN which is a dominant telecoms operator in Africa.

Airtel gets N415 billion Google boost

Read also

Airtel Africa surpasses N5 trillion market capitalization, more than Dangote Cement

Meanwhile, Legit.ng has reported that Airtel Africa is set to become the biggest telecoms operator on the African continent with the latest interest shown by search engine giant, Google.

Reports reaching Legit.ng says the global internet behemoth intends to acquire a 1.28 per cent in the company and invest over N400 billion in the company.

Google said it will invest the money in the Indian telecom operator as part of an N4.15 trillion commitment to India.

Source: Legit.ng

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