The newest stock on The Nigerian Exchange (NGX), BUA Foods Plc (NGX: BUAFOODS), has overtaken the most expensive stock on The Exchange, Nestle Nigeria Plc (NGX: NESTLE), to become the fifth most capitalized stock.
At the end of trading on Tuesday, 11th January 2022, the share price of BUAFOODS gained 10% to close at N64.35, while the share price of NESTLE lost 7.81% to close at N1,435.00.
With 18,000,000,000 outstanding shares at N64.35, the market capitalization of BUAFOODS now stands at N1.15 trillion.
NESTLE with only 792,656,252 outstanding shares, at a princely price of N1,435.00 per share, has a market capitalization of N1.13 trillion.
Both BUAFOODS and NESTLE are listed on the Main Board of the NGX, and are both in the Consumer Goods sector.
Both companies are into the manufacturing, marketing and distribution of food products.
BUAFOODS listed on The Nigerian Exchange by Introduction on Wednesday, 5th January 2022 at N40.00. The Share price has now risen by 60.87% since its listing.
The top 10 most capitalized stocks on the Nigeria Exchange are as listed below (Source: YOCHAA);
- Dangote Cement Plc (DANGCEM) – N4.41 tn
- Airtel Africa Plc (AIRTELAFRI) – N3.95 tn
- MTN Nigeria Telecommunications Plc (MTNN) – N3.79 tn
- BUA Cement Plc (BUACEMENT) – N2.32 tn
- BUA Foods Plc (BUAFOODS) – N1.16 tn
- Nestle Nigeria Plc (NESTLE) – N1.14 tn
- Zenith Bank Plc (ZENITHBANK) – N797.47 bn
- Guaranty Trust Bank Plc (GTCO) – N750.50 bn
- Stanbic IBTC Holdings Plc (STANBIC) – N483.30 bn
- FBN Holdings Plc (FBNH) – N430.74 bn
Nnamdi Maduakor is a Writer, Investor and Entrepreneur