Afriland Properties Buoys Unlisted Securities Exchange’s 0.01%

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By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed 0.01 per cent higher on Wednesday, April 19, on the back of the positive performance of Afriland Properties Plc.

The real estate company excited its shareholders recently with the payment of a 10 Kobo per share dividend for the 2022 financial year, and this has continued to attract more investors to the firm, resulting in an uptick in the share price.

At the midweek session, the stock gained 6 Kobo to settle at N2.26 per unit compared with the previous day’s closing price of N2.20 per unit.

As a result, the value of the unlisted securities exchange increased at the close of business by N80 million to N1.026 trillion from N1.026 trillion.

Similarly, the NASD Unlisted Securities Index (NSI) went up by 0.06 points to wrap the session at 742.02 points compared with 741.96 points in the previous session.

The unlisted stock market witnessed a surge in trading activities as the volume of securities traded by investors increased by 3,711.6 per cent to 1.8 million units from the 48,397 units traded on Tuesday.

Also, the value of shares transacted by market participants jumped by 765.0 per cent to N15.1 million from the N1.8 million reported a day earlier.

These transactions were carried out in 19 deals versus the six deals executed at the close of business on Tuesday, indicating an increase of 216.7 per cent.

Geo-Fluids Plc ended the trading day as the most traded stock by volume (year-to-date) for transacting 811.3 million units valued at N1.3 billion, followed by Industrial and General Insurance (IGI) Plc with 615.6 million units worth N48.6 million, and UBN Property Plc for selling 369.8 units valued at N313.0 million.

The most actively traded stock by value (year-to-date) was VFD Group Plc with 10.4 million units worth N2.4 billion, trailed by Geo-Fluids Plc with 811.3 million units worth N1.3 billion, and UBN Property Plc with 369.8 million units valued at N313.0 million.

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