BUA Foods Tightens Grip on Top Spot as Valuation Crosses N13trn

The share price of BUA Foods jumped by 6.02 percent on Friday to N734.20 a piece, helping it cement its position as the most valuable company on the Nigerian Exchange Limited (NGX).

Its market capitalisation rose to N13.22 trillion from N12.47 trillion on Thursday, according to NGX data. 

On August 7, the food business crossed the N10 trillion for the first time, overtaking MTN Nigeria Communications as the most valuable company. The telecommunication company emerged on August 1 as the second listed company to achieve the feat.

In January last year, Dangote Cement made history as the first company on the NGX to reach a valuation of N10 trillion.