These investors own 46% of the entire market value of the NGX
Major shareholders in ten of Nigeria’s largest listed companies hold stakes worth an estimated N73.11 trillion, highlighting the significant concentration of ownership among the biggest companies on the Nigerian Exchange (NGX). The post These investors own 46% of the entire market value of the NGX appeared first on Nairametrics .
A recent analysis of ten of Nigeria's largest listed companies has revealed that major shareholders control an estimated N73.11 trillion worth of shares, making up 64.70% of the total market value of the NGX and 46.18% of the entire market. These major shareholders include Abdul Samad Rabiu, BUA Industries Limited, Dangote Industries Limited, MTN International, Airtel Africa Mauritius, Caricement BV, Femi Otedola, Tony Elumelu, Jim Ovia, and Petrolin Ocean Limited.
Notably, Abdul Samad Rabiu holds a staggering 92.64% stake in BUA Foods and 56.03% in BUA Cement, while Dangote Industries Limited has a 86.65% majority stake in Dangote Cement. The concentration of ownership in these companies represents a significant portion of the Nigerian exchange's market capitalisation, with an implied value of approximately N46 out of every N100 of market value on the NGX controlled by this small group of investors.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
