Aduragbemi Omiyale
By Aduragbemi Omiyale
Shares of LivingTrust Mortgage Bank Plc have remained unchanged at N3.27 per unit on the floor of the Nigerian Exchange (NGX) Limited despite reports of an investor intending to take up to 7 per cent stake in the firm.
There have been reports in the past few days that a foreign investor wants a bite of the real estate lending firm. The unidentified investor is reportedly interested in the acquisition of 7 per cent of its shares.
It was said that the investor has seen future value in the company and wants to quickly position himself before it is too late to strike.
According to reports, the investor has finalised his due diligence and is ready to file the regulatory paperwork as soon as possible to complete the transaction, which some analysts have said would turn things around for the bank, especially as it plans to position itself as a dominant player in the nation’s mortgage banking space.
Normally, when information like this flies around about a company, its share price on the stock exchange rises as other investors quickly take a position.
However, this has not been the case with LivingTrust Mortgage Bank, as the value of its stocks at the NGX has remained unchanged.
Analysis by Business Post showed that from February 15, 2024, till March 13, 2024, the price of the company’s equities has remained static at N3.27, with minimal trading activity except for today.
On February 15, it traded 20,000 units and on March 1, only 1,000 units of the company’s stocks were transacted at the bourse.
The next trading activities the lender recorded at the exchange were the sale of 100 units on March 7, and 550 units on March 12.
But on March 13 (today), LivingTrust Mortgage Bank traded 51,450 units valued at N151.777.50, apparently buoyed by news that an offshore investor was interested in the organisation. The stock has a 52-week low of N2.47 and a 52-week high of N3.27.
With shares outstanding of 5 billion, the market capitalisation of LivingTrust Mortgage Bank, which has its corporate headquarters in Osun State, is N16.350 billion.
