International Breweries Becomes Second Brewer to Join Trillion-Naira Club

International Breweries Plc saw its market capitalisation hit the N1 trillion mark on Tuesday for the first time as its share price jumped by the daily limit of 10 percent.

The company emerged as the biggest gainer at the end of trading on the Nigerian Exchange Limited, followed by its rival Nigerian Breweries Plc, which rose by 9.94 percent.

The market cap of International Breweries surged to N1.02 trillion from N925.6 million on Thursday.

The membership of the exclusive club of listed companies with at least N1 trillion valuation increased to 18.

Other members are Airtel Africa, Dangote Cement, BUA Foods, BUA Cement, MTN Nigeria, Seplat Energy, Geregu Power, Aradel Holdings, Transcorp Power, Lafarge Africa, Transcorp Hotels, Guaranty Holding Company, Zenith Bank, Access Holdings, United Bank for Africa and Nigerian Breweries.