The combined market capitalization of the stocks worth over one trillion (SWOOTs) depreciated by 2.84% to close at N15.39 trillion from N15.84 trillion the previous week, reflecting a loss of N449.36 billion. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE and MTNN Plc. Stock Performance
Airtel Africa Plc – N955.00
Airtel Africa Plc share price grew by 0.50% during the week to close at N955.00 per share at the end of the trading week with a market capitalization of N3.59 trillion. The price increase took the company’s market value up by N18.79 billion.
The telecommunications company has initiated a process under which it seeks to buy back the 8.27% minority shareholdings at an offer price of NGN 55.81 per share. This trigged a buy interest in the company shares.
Airtel’s HY 2021 unaudited results for the period ended September 30th, 2021 revealed that Revenue grew by 20.21% from $965 million in the previous year to $1.16bn in the current period. In the same vein, Operating profit showed impressive growth to record a 45% increase from $262 million to $380 million.
Net Profit surged significantly by 118.18% from $88 million to $192 million Airtel Africa Plc has an earnings per share of 4.3 cents. MTNN Plc – N167.00
MTNN Plc’ share price, at the end of the trading week, closed at N167.00 per share, to depreciate by 12.1%, taking its market capitalization to N3.40 trillion at the end of the five trading sessions of the week. The communications company, a competitor with Airtel Nig Plc, has a total market capitalization of N3.40 trillion, N189 billion lower than Airtel Africa’s current market value.
MTNN Plc is the second-highest in market value on the Nigerian Exchange Limited (NGX), right behind Dangote Cement Plc. The MTN Group had last week commenced the sale of $245 million worth of its Nigerian subsidiary shares to retail investors, after the bookbuild which ended on the 26 th of November, 2021.
The company released its Q3 2021 financial result, reflecting a 22.89% growth in revenue for the period, while profit after tax grew significantly by 58.99% from N49.36 billion in Q3 2020 to N78.48 billion in the current period.
Other companies under the SWOOT classification remained unchanged in share prices and their performances are summarized below: Nestle Nig Plc – N1,395.00
Nestle Nigeria Plc’s share price remained unchanged to close the week at N1,395.00 amidst […]
