Connect with us

Economy

FrieslandCampina Woes at NASD Market Continue, Sheds N3.74

Published

on

Friesland WAMCO

By Adedapo Adesanya 

FrieslandCampina Wamco Plc’s performance further took a worse turn on Friday, November 29, 2019 at the NASD over-the-counter Securities Exchange just as the trading platform for unlisted securities suffered another loss for the third consecutive day this week.

The losses posted by FrieslandCampina WAMCO at the exchange have occurred as the company continue to celebrate a Memorandum of Understanding (MoU) signed with Niger State for 10,000 hectares of land at the Bobi Grazing Reserve in the state under FrieslandCampina WAMCO’s Dairy Development Programme (DDP) on Tuesday.

At the Friday’s trading session, share price of the food processing company’s further plunged by N3.74k to settle at N115 per share against N118. 74 per share it traded the previous day.

Business Post understands that on Wednesday (November 27), the company’s share lost N5.72k from N128.72k to close at N123. It went down further on Thursday by N4.26k to N118. 74k before it further plunged yesterday.

The performance of the company contributed to the N3.7 billion or 0.73 percent reduction in the market capitalisation of the NASD Exchange yesterday, closing at N497.75 billion in contrast to the N501.40 billion quoted on Thursday.

Following the same trend, the NASD Security Index (NSI) also declined by 0.73 percent following a drop of 5.08 points to 692.83 points against 697.91 points recorded at the previous session.

However, the volume of trade kept up a good performance as it continued to increase, this time by a whooping 3,814.74 percent to 19.9 million units from 505,528 units recorded on Thursday.

The total value of transactions on the last trading day of the week also went up by N78.8 million or 253.5 percent from 31.1 million that was realised at the previous session to N109.9 million.

The number deals executed on Friday saw plunge as it went down from 18 deals to 17 deals.

Central Securities Clearing System (CSCS) Plc took the top spot in terms of the most traded stock by value (year-to-date) with 202,272,698 units worth N2.53 billion, while UBN Properties followed on the list with 884,529,600 units of its stocks sold for N1.2 billion.

Meanwhile, Food Concept Plc remained at the top of trades by volume (year to date) chart with a total transaction of 1,158,828,284 units valued at N844 billion, while UBN Properties followed with 921,841,397 units worth N1.24 billion.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs

Published

on

capital market operators

By Aduragbemi Omiyale

The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.

Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.

This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.

The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.

In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.

“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.

“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.

“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.

Continue Reading

Economy

Fidson Lists Additional 600 million Shares on Stock Exchange

Published

on

fidson

By Aduragbemi Omiyale

One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.

The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.

The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.

They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.

Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.

“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.

“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”

Continue Reading

Economy

FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure

Published

on

FG contractors protest

By Modupe Gbadeyanka

This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.

This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.

This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.

The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.

In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.

It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.

The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.

“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.

Continue Reading

Trending