Lafarge Africa Plc, one of many main cement producers in Nigeria, has gained nearly N71 billion previously three buying and selling classes on NSE, pushing the market capitalization of the cement producer to N384.98 billion.
Lafarge whose shares peaked at N30.3 this 12 months, noticed its share worth enhance from N19.5 on the third of March 2021 to N23.90 on the shut of buying and selling actions on March 8 2021 after enduring a large promote down in current weeks.
According to knowledge tracked on the NSE website, this transfer led to a N70.87 billion achieve available in the market capitalization of Lafarge Africa in three buying and selling classes on the native bourse.
This spectacular features in Lafarge’s shares and market worth had been triggered by shopping for pressures from cut price hunters who took place within the firm after its share worth slumped to N19.5 per share.
- At the time of penning this report, Lafarge was the tenth most capitalized firm on NSE with a market capitalization of N384.98 billion, behind Nigerian Breweries with a market capitalization of N395.85 billion.
- A complete of 5,380,311 models of Lafarge atypical shares value N129,602,973.90, had been exchanged on the bourse in 185 offers on Monday eighth March 2021.
- The shares of the cement producer gaining a complete 7.66% or N1.7 to shut greater at N23.9 on the eighth of March 2021.
What it’s best to know
- Lafarge Africa Plc, a subsidiary of LafargeHolcim, a world chief in constructing supplies, is a number one cement manufacturing firm in Sub-Saharan Africa with a present put in cement manufacturing capability of 10.5Mtpa.
- The cement producer has a large operational footprint in Nigeria strategically positioned in three Geo-political zones within the nation which embrace; the South West (Ewekoro and Sagamu in Ogun State), North East (Ashaka, in Gombe State), South East (Mfamosing, Cross Rivers State).
- The firm additionally has a ready-mix operation in Lagos, Abuja and Port Harcourt.
In an effort to chop down on deadweight price, the Board of Lafarge Africa Plc has resolved to unload its 35% stake in Continental Blue Investment Ghana Limited – a transfer that may see the corporate minimize down on prices impacting the Group’s revenue.
This shouldn’t be the primary time the corporate has needed to unload an unproductive funding, in August 2019, Lafarge Africa offered off all its stakes in Lafarge South Africa Holdings (LSAH).