FrieslandCampina Woes at NASD Market Continue, Sheds N3.74

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Image Credit: PM News

By Adedapo Adesanya 

FrieslandCampina Wamco Plc’s performance further took a worse turn on Friday, November 29, 2019 at the NASD over-the-counter Securities Exchange just as the trading platform for unlisted securities suffered another loss for the third consecutive day this week.

The losses posted by FrieslandCampina WAMCO at the exchange have occurred as the company continue to celebrate a Memorandum of Understanding (MoU) signed with Niger State for 10,000 hectares of land at the Bobi Grazing Reserve in the state under FrieslandCampina WAMCO’s Dairy Development Programme (DDP) on Tuesday.

At the Friday’s trading session, share price of the food processing company’s further plunged by N3.74k to settle at N115 per share against N118. 74 per share it traded the previous day.

Business Post understands that on Wednesday (November 27), the company’s share lost N5.72k from N128.72k to close at N123. It went down further on Thursday by N4.26k to N118. 74k before it further plunged yesterday.

The performance of the company contributed to the N3.7 billion or 0.73 percent reduction in the market capitalisation of the NASD Exchange yesterday, closing at N497.75 billion in contrast to the N501.40 billion quoted on Thursday.

Following the same trend, the NASD Security Index (NSI) also declined by 0.73 percent following a drop of 5.08 points to 692.83 points against 697.91 points recorded at the previous session.

However, the volume of trade kept up a good performance as it continued to increase, this time by a whooping 3,814.74 percent to 19.9 million units from 505,528 units recorded on Thursday.

The total value of transactions on the last trading day of the week also went up by N78.8 million or 253.5 percent from 31.1 million that was realised at the previous session to N109.9 million.

The number deals executed on Friday saw plunge as it went down from 18 deals to 17 deals.

Central Securities Clearing System (CSCS) Plc took the top spot in terms of the most traded stock by value (year-to-date) with 202,272,698 units worth N2.53 billion, while UBN Properties followed on the list with 884,529,600 units of its stocks sold for N1.2 billion.

Meanwhile, Food Concept Plc remained at the top of trades by volume (year to date) chart with a total transaction of 1,158,828,284 units valued at N844 billion, while UBN Properties followed with 921,841,397 units worth N1.24 billion.

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