By Adedapo Adesanya
FrieslandCampina WAMCO Nigeria Plc recorded an N8.50 or 6.54 per cent price appreciation on Monday to trade at N130 per share compared with the previous N121.50 per share.
Business Post reports that the milk production company granted easy access to the bulls to the NASD Over-the-Counter (OTC) Securities Exchange yesterday.
It was observed that the share price of the company was strengthened during the session on the news that shareholders of PZ Cussons Nigeria Plc were meeting soon to ratify the sale of Nutricima Limited to FrieslandCampina, which is expected to boost both the top line and bottom line of the firm.
Nutricima Limited is part of the Food and Nutrition division of PZ Cussons, which manufactures, markets and sells dairy-based beverages and fruit juices for West-Africa.
In an Extraordinary General Meeting (EGM) notice sent to the Nigerian Stock Exchange (NSE) last Thursday and signed by Mrs Jacqueline Ezeokwelume, Company Secretary/Legal Adviser, it was disclosed that the meeting will consider the sale and transfer to FrieslandCampina WAMCO Nigeria Plc all portion of land measuring approximately 67,733.235 square meters situated within Plot 20A Ikorodu Industrial Scheme in Ikorodu, Lagos State, Nigeria.
The meeting has been scheduled to hold at the Command Centre, PZ Cussons Nigeria Plc, 45/47 Town Planning Way, Ilupeju, Lagos on Thursday, September 24 at 11am.
This news spurred demand in the securities of Friesland yesterday and it consequently lifted the NASD Unlisted Securities Index (NSI) by 1.58 per cent or 11.3 points to end the day at 725.51 points compared to 714.21 points recorded at the previous session.
It equally buoyed the market capitalisation of the unlisted securities market by 1.58 per cent or N8.3 billion to N532.94 billion as against the previous N524.64 billion.
During the session, the volume of shares transacted by investors increased by 830.2 per cent as a total of 41,394 units were traded compared with the 4,450 units of securities traded at the previous session.
These came from six deals executed from two admitted companies; FrieslandCampina WAMCO Nigeria Plc (five deals) while the Niger Delta Exploration and Production (NDEP) Plc had one deal.
In terms of value of yesterday’s trades, they stood at N11.4 million, 872.3 per cent higher than N1.2 million achieved at the previous session.
At the close of transactions, ARM Life Plc was the company with the highest volume of traded shares (year-to-date) with 7.4 billion units worth N4.6 billion, while Central Securities Clearing Systems (CSCS) Plc traded 201.1 million units worth N2.7 billion, with Food Concept Plc transacting 125.1 million units of its shares worth N88.1 million.
For the most active stock by value (year-to-date), ARM Life Plc maintained the top spot with 7.4 billion units of its shares traded for N4.6 billion. NDEP Plc trailed with N8.8 million units of its securities valued at N2.7 billion, while CSCS Plc followed with 201.1 million units exchanged for N2.7 billion.
Modupe Gbadeyanka