Dipo Olowookere
By Dipo Olowookere
One of the leading beverage firms in the country, Cadbury Nigeria Plc, performed well at the local stock market last week, chalking up 42.31 per cent to trade at N24.05 at the close of transactions.
This came after the company announced that it was carrying out a capital reorganisation of a debt-to-equity swap.
In a statement filed to the Nigerian Exchange (NGX) Limited last week, Cadbury Nigeria said it would convert its outstanding loan of $7.7 million to 402 million shares to be issued to Cadbury Schweppes Overseas.
Also in the week, Veritas Kapital rose by 39.47 per cent to 53 Kobo, Julius Berger appreciated by 32.94 per cent to N56.50, The Initiates improved by 31.43 per cent to N1.84, and Jaiz Bank gained 31.30 per cent to sell for N3.02.
On the flip side, DAAR Communications topped the losers’ chart after it lost 30.23 per cent to 90 Kobo, TotalEnergies fell by 10.00 per cent to N346.50, NEM Insurance dropped 9.45 per cent to N5.75, CWG declined by 9.29 per cent to N8.10, and May & Baker decreased by 7.73 per cent to N5.49.
Business Post reports that 75 shares gained weight last week compared with 88 shares of the preceding week, 23 equities shed weight versus 17 equities of the previous week, and 57 stocks closed flat versus 50 stocks in the earlier week.
The impact of the price gainers bolstered the All-Share Index (ASI) and the market capitalisation by 4.24 per cent to 83,042.96 points and N45.442 trillion, respectively.
Similarly, all other indices finished higher except the energy index, which fell by 1.61 per cent, while the ASeM index closed flat.
In the week, 5.719 billion shares worth N88.828 billion in 80,064 deals were exchanged by traders versus the 3.320 billion shares worth N41.755 billion traded in 46,994 deals of the earlier week.
The financial services industry led the activity chart with 3.873 billion shares valued at N53.364 billion traded in 39,913 deals, contributing 67.72 per cent and 60.08 per cent to the total trading volume and value, respectively.
The conglomerates sector followed with 725.490 million shares worth N9.886 billion in 7,658 deals, and the third place was the energy counter with a turnover of 223.240 million shares worth N2.690 billion in 4,464 deals.
Transcorp, FCMB, and Fidelity Bank accounted for 1.380 billion shares worth N17.741 billion in 12,442 deals, contributing 24.12 per cent and 19.97 per cent to the total trading volume and value apiece.
