Aradel Holdings, FrieslandCampina Chew Off N42bn from OTC Stock Market

By Adedapo Adesanya

Losses recorded in Aradel Holdings Plc and FrieslandCampina Wamco Nigeria Plc wiped off 2.08 per cent from the NASD Over-the-Counter (OTC) Securities Exchange on Monday, August 5.

The share value of Aradel Holdings Plc decreased during the session by N184.40 to settle at N4,456.78 per unit compared with last Friday’s closing price of N4,641.18 per unit, and FrieslandCampina Wamco Nigeria Plc crumbled by N1.00 to end the day at N47.00 per share, in contrast to the preceding session’s N48.00 per share.

As a result, the value of the OTC stock market contracted by N42.01 billion to finish at N1.972 trillion versus the previous trading day’s N2.014 trillion.

In the same vein, the NASD Unlisted Security Index (NSI) recorded a slide of 30.65 points to end the day at 1,439.58 points as against 1,470.23 points it recorded at the previous session.

The market was largely impacted by panic selling by investors, who reconsidered their risk appetite for unlisted securities, resulting in high trading activity.

The volume of securities traded at the bourse yesterday surged by 154.6 per cent to 262,401 units from the 103,076 million units transacted in the last session.

Also, the value of shares transacted by the market participants increased by 353.7 per cent to N1.02 billion from N223.1 million, and the number of deals jumped by 3.2 per cent to 32 deals from the 31 deals recorded in the previous trading session.

At the close of business, Aradel Holdings Plc was the most active stock by value (year-to-date) with 8.6 million units sold for N27.3 billion, followed by Afriland Properties Plc with 230.5 million units valued at N4.1 billion, and Central Securities Clearing System (CSCS) Plc with 102.2 million units worth N2.5 billion.

The most active stock by volume (year-to-date) remained Capital Hotels Plc with the sale of 259.6 million units worth N1.3 billion, followed by Afriland Properties Plc with 230.5 million units valued at N4.1 billion, and Industrial and General Insurance (IGI) Plc with 218.8 million units sold for N46.1 million.