BUA Foods Powers Ahead With Market Cap Surging to N11.33trn

BUA Foods, the third listed company to reach N10 trillion in market capitalisation, boosted its valuation on Monday as its share price rose by 6.73 percent on Monday.

The subsidiary of BUA Group cemented its position as the most valuable company on the Nigerian Exchange Limited (NGX) as its market cap increased to N11.33 trillion from N10.62 trillion on Friday. MTN Nigeria’s market value stood at N9.13 trillion, while that of Airtel Africa was N8.68 trillion.

On August 7, the company crossed the N10 trillion for the first time, overtaking MTN Nigeria Communications as the most valuable company.

MTN Nigeria Communications emerged on August 1 as the second listed company to hit N10 trillion market capitalisation.

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