FosRich Company Limited (FOSRICH) has achieved quite a feat as it becomes the most valuable company on the JSE by market capitalization. It finished the year 2022 with a market capitalization of $19.64 billion.
The company saw its stock price increase by 332 percent, to put things in perspective the overall Junior Market Index is valued at $194.29 billion in market capitalization.
This rise also saw them overtaking Lasco Manufacturing Limited, which held the record 11 consecutive years. FosRich is now on its second year in a row as the top performing stock.
In 2021 the price increased by 120 percent. Despite them being the top company by market cap, Lasco Manufacturing and Laso Distributors earned the most in net profit totaling $1.71 and $1.02 billion respectively.
The company carried out a stock split on July 26, 2022 which increased the shares and widened the investor pool. This was also another record on the JSE market as it became the company with the most number of shares. This stock split pushed to share price to $3.91 from $9.05.
