Lafarge Africa Adds N71b In Market Value In Three Trading Sessions

Lafarge Africa Plc has gained almost N71 billion in the past three trading sessions, according to a data obtained on the Nigerian Stock Exchange (NSE).

Brandnewsday understands that the NSE released the report that one of the leading cement manufacturers in Nigeria, has pushed its market capitalization to N384.98 billion as a result of its gained N71 billion market values  in three trading quarters.

Moving forward, Lafarge’s shares bullish to N30.3 in 2021, saw the Lafarge share price increased from N19.5 on the 3rd of March 2021 to N23.90 at the close of trading activities on March 8 2021 after enduring a massive sell down in recent weeks.

Lafarge Africa

According to data tracked on the NSE website, this move led to a N70.87 billion gain in the market capitalization of Lafarge Africa in three trading sessions on the local bourse.

This impressive gains in Lafarge’s shares and market value were triggered by buying pressures from bargain hunters who took position in the company after its share price slumped to N19.5 per share.

Recall that the cement producing company had to sell off an unproductive investment, in August 2019, Lafarge Africa sold off all its stakes in Lafarge South Africa Holdings (LSAH).

Also, in its effort to cut down on deadweight cost, the Board of Lafarge Africa Plc has resolved to sell off its 35% stake in Continental Blue Investment Ghana Limited – a move that will see the company cut down on costs impacting the Group’s profit.

What You Should Know About Larfarge Africa

• Larfrge Africa Nigeria has a wide operational footprint in Nigeria strategically positioned in three Geo-political zones in the country which include; the South West (Ewekoro and Sagamu in Ogun State), North East (Ashaka, in Gombe State), South East (Mfamosing, Cross Rivers State).
• The cement manufacturer a subsidiary of LafargeHolcim, a world leader in building materials, is a leading cement manufacturing company in Sub-Saharan Africa with a current installed cement production capacity of 10.5Mtpa.
• The company also has a ready-mix operation in Lagos, Abuja and Port Harcourt.