Friesland Crashes Unlisted Securities Market by 3.8%

April 29, 2020
FrieslandCampina

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange shed 0.83 percent on Tuesday, April 28, 2020.

This contraction was caused by the poor performance of a leading milk producing company, FrieslandCampina WAMCO Plc.

Share price of the firm fell 3.81 percent or N4.40 to trade at N115.60 kobo per share in contrast to N120 per share of the previous day. The company was the day’s only loser.

The loss recorded by the milk producer, which is one of the market’s bellwethers, lowered the market capitalisation by N4.3 billion to N510.44 billion from N514.74 billion it ended on Monday.

In the same vein, the NASD Unlisted Security Index (NSI) shed 5.85 points to close at 694.88 points as against 700.73 points of the previous session.

Despite the loss printed by the unlisted securities market yesterday, the activity level improved accrossed the key indicators.

The total volume of securities transacted by investors at the session increased by 363.7 percent as 24,800 units of stocks exchanged hands on Tuesday compared with 5,348 units of securities transacted at the previous session.

Also, the value of the shares traded during the session appreciated by 583.5 percent to N2.9 million from N422,660 of the last session.

Furthermore, the number of deals executed yesterday increased by 50 percent as three deals were carried out in contrast to two deals at the last trading day. These were done by FrieslandCampina.

Business Post reports that ARM Life Plc remained as the most active stock by volume (year-to-date) by the time activities wrapped up on Tuesday. The insurer has traded 7.4 million units of its shares worth N4.6 billion so far this year.

Food Concept Plc, which followed, has transacted 110 million units worth N77 million, while Lighthouse Financial Services Plc has exchanged 48 million units of its shares valued at N24 million.

In terms of the most traded equity by value (year-to-date), ARM Life Plc also kept the topmost spot on the table, trading 7.4 billion units valued at N4.6 billion. Nigeria Delta Exploration and Production (NDEP) Plc followed with 6.5 million units exchanged for N2.03 billion, while Central Securities Clearing Systems (CSCS) Plc has sold 24.2 million units valued at N287 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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