Investors in the cement manufacturing companies listed on the Nigerian Exchange Limited have had their wealth increased by about N715.89bn in the third quarter of the year.
This was contained in the trading statistics of these companies which include Dangote Cement Plc, BUA Cement Plc and Lafarge Africa Plc tracked by The PUNCH.
The rise in wealth of investors is on the back of positive sentiments witnessed in at least two of the listed companies, whose market capitalisation and share price increased within the period under review.
In the period under review, Dangote Cement listed under the industrial goods sub-sector of the NGX recorded the highest value of increase amongst the three cement companies. It recorded a gain of N937.22bn gain during Q3, 2023.
The cement stock grew by 19.29 per cent to close at N340 per share and its market capitalisation stood at N5.79tn as of the end of September from N4.85tn as of June 30, 2023. Its shares closed out the half year priced at N285 per unit.
Another cement manufacturer, Lafarge Africa Plc, also grew its market cap and share price within the three months under review. Lafarge’s market capitalisation rose by 1.52 per cent or N7.24bn from N475.17bn to N482.42bn. Its share price increased by the same percentage to N29.95 per unit from N29.5.
https://punchng.com/cement-companies-in ... in-n715bn/
