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Coronation, Stanbic IBTC Lead 2017 NASD Trades by Value

By Dipo Olowookere

Coronation Securities Limited, a subsidiary of Coronation Merchant Bank Group led participating institutions on the NASD OTC Market by value of transactions for the year 2017.

This information was made known by NASD in its weekly newsletter obtained by Business Post on Friday.

It was disclosed that authorised traders at the institution traded 4.7 million units of shares worth N428.31 million in 13 deals.

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Other leading participating institutions for the year were Stanbic IBTC Stockbrokers Limited, Capital Assets Limited, Greenwich Securities Limited, Chapel Hill Denham Securities, Anchoria Investment & Securities Limited, Apel Asset Limited, TRW Stockbrokers Limited and Readings Investments Limited

Together, the top 10 participating firms accounted for 59 percent of total value of transactions on the OTC Market in 2017.

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In addition, Apel Assets Limited ranked first by volume of shares traded on the OTC Market in the period under review.

Authorised Traders facilitated transactions in 360.62 million units of shares, representing 37.5 percent of transactions in the period.

Greenwich Securities Limited claimed the second spot, trading 162.67 million units of shares, while Stanbic IBTC Stockbrokers Limited closed the year in the third position, trading 102.54 million units of shares.

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Other top performing participating institutions by volume traded included Tyndale Securities Limited, Rencap Securities (Nigeria) Limited, Finmal Finance Services Limited, Calyx Securities Limited, ICON Stockbrokers Limited, TRW Stockbrokers Limited and Traders Trust & Investment Company Limited.

These participating institutions account for 92 percent of the volume of shares transacted on the OTC Market in 2017.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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