Femi Otedola Invests N6 Billion in Dangote Cement, Stock Surges

Confidence UbaniJanuary 20, 20241 Mins read375

Billionaire investor Femi Otedola has made significant moves in the stock market by acquiring shares worth N6 billion in Dangote Cement, a leading player in the SWOOT (Stocks Worth Over One Trillion) category.

The multinational cement manufacturer, with a market capitalization of approximately N7.7 trillion, is currently the largest company in the SWOOT group, surpassing others like MTN, Airtel, Seplat, BUA Foods, and more. Its most recent feat includes dethroning Airtel Africa to become Nigeria’s biggest company by market capitalization.

Dangote Cement’s stock opened the week at N350 and experienced a 29% gain due to increasing demand. On Thursday, it surged by 3.8%, reaching a 48% Year-To-Date increase. Dangote Cement has a substantial market presence with about 16.8 billion shares outstanding.

Over the past 52 weeks, Dangote Cement has yielded an impressive 81.4% return, solidifying its position as Sub-Saharan Africa’s largest cement maker. Otedola’s latest venture into Dangote Cement is reflected in the company’s strong market performance and solidifies the billionaire’s position as a shrewd investor in Nigeria’s dynamic financial landscape.

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