Food Concepts, Aradel Holdings Weaken Unlisted Securities by 2.23%

March 14, 2024
Food Concepts Chicken Republic

By Adedapo Adesanya

Aradel Holdings Plc and Food Concepts Plc extended the loss at the NASD Over-the-Counter (OTC) Securities Exchange for the third straight day by 2.33 per cent on Wednesday, March 13.

Aradel Holdings Plc recorded another drop, this time by N155.20, to sell at N1,789.36 per share compared with the previous day’s N1,944.56 per share and Food Concepts Plc lost 4 Kobo to end at N2.20 per unit versus the preceding session’s N2.24 per unit.

However, Afriland Properties Plc appreciated yesterday by 51 Kobo to settle at N5.72 per unit, in contrast to the N5.21 it was sold a day earlier.

When the bourse ended trading activities for the day, its market capitalisation went down by N34.07 billion to N1.430 trillion from N1.464 trillion in the previous session, and the NASD Unlisted Security Index (NSI) recorded a slide of 25.14 points to end the day at 1,055.21 points as against 1,080.35 points it recorded at the previous session.

In terms of the volume of securities traded at the bourse, there was an 89.6 per cent slump to 3.4 million units from the 32.5 million units recorded on Tuesday.

But it was a different outcome with the trading value, which increased by 112.8 per cent to N98.2 million from N46.2 million, while the number of deals remained unchanged at 24 deals.

IPWA Plc finished the trading session as the most traded stock by volume (year-to-date) with a turnover of 79.7 million units worth N39.8 million, trailed by Mixta Real Estate Plc with the sale of 69.9 million units for N114.6 million, and Geo-Fluids Plc with the sale of 51.0 million units valued at N126.4 million.

Aradel Holdings Plc ended the day as the most traded stock by value (year-to-date) with 2.2 million units valued at N4.6 billion, followed by FrieslandCampina Wamco Nigeria Plc with 4.7 million units sold for N354.2 million, and Geo-Fluids Plc with the sale of 51.0 million units worth N126.4 million.

Adedapo Adesanya

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.

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