Access Holdings Plc (NGX: ACCESSCORP) has joined the club of companies with over ₦1 Trillion valuation on the Nigeria Exchange.
The share price of the financial services holding company rose by 8.39% on Tuesday to close at ₦29.70. The rise in price pushed it’s market capitalization above the ₦1 trillion mark to ₦1.06 trillion.
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ACCESSCORP achieved the feat just a day after United Bank for Africa Plc (NGX: UBA) joined the ₦1 trillion valuation club.
Investogist reported that UBA had on Monday joined the group of companies listed on the Nigerian Exchange with more than N1 million market capitalization as the share price rose 3.28% to close at N29.90 per share pushing its market capitalization to ₦1.02 trillion.
FBN Holdings Plc (NGX: FBNH) rejoined the club as it’s share price jumped from ₦26.00 on Monday to ₦28.60 on Tuesday, pushing its market capitalization to ₦1.03 trillion.
FBNH crossed the ₦1 trillion mark on December 6, 2023 for the first time after recording a ₦1.05 trillion market capitalization. It exited the club at the end of the next trading session.
With the ascent of ACCESSCORP and the return of FBNH, all tier-1 banks in Nigeria popularly known as the FUGAZ now have a market capitalization above ₦1 trillion.
The market capitalization of the FUGAZ banks at the end of trading on Tuesday are;
F: FBN Holdings Plc – ₦1.03 trillion
U: United Bank for Africa Plc – ₦1.11 trillion
G: Guaranty Trust Holding Company Plc (NGX: GTCO) – ₦1.42 trillion
A: Access Holdings Plc – ₦1.06 trillion
Z: Zenith Bank Plc (NGX: ZENITHBANK) – ₦1.49 trillion
Airtel Africa Plc (NGX: AIRTELAFRI) remains the company with the highest market cap on the Nigerian Exchange with ₦7.52 trillion.
Other companies in the ₦1 trillion valuation club are; MTNN (₦6.00 trillion), DANGCEM (₦5.74 trillion), BUAFOODS (₦3.74 trillion), BUACEMENT (₦3.45 trillion) and SEPLAT (₦1.36 trillion).
The companies in the ₦1 trillion valuation club account for ₦33.92 trillion of the NGX Equities market’s ₦45.52 trillion market capitalization.
These 11 companies account for 74.51% of the Nigerian Exchange’s equities market capitalization.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur