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Economy

Lafarge Africa Lists Additional 7.43bn Shares on NSE

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By Dipo Olowookere

The Nigerian Stock Exchange (NSE) has admitted additional 7.43 billion ordinary shares of Lafarge Africa Plc on its trading platform.

The new shares of the company came from the N89.2 billion rights issue exercise carried out by the cement maker recently, which recorded 100 percent subscription, according to a recent statement.

The new 7.43 billion ordinary shares of 50 kobo each were sold to existing shareholders of Lafarge Africa at N12 per unit from Monday, December 17, 2018 to Monday, January 28, 2018.

Business Post reports that the company issued 6 new shares for every 7 shares held by shareholders as at December 4, 2018, which was the qualification date.

During the exercise, Chapel Hill Denham acted as the lead issuing house, while Stanbic IBTC Capital was the joint issuing house.

With this listing of the additional 7.43 billion ordinary shares on NSE, the total issued and fully paid up shares of Lafarge Africa are now 16.11 billion ordinary shares.

Earlier this month, Lafarge Africa unveiled details of subscriptions of the rights issue, saying 1,826 Acceptance Forms for 7,434,367,256 units of the rights issue received were found to be valid under the terms of the exercise and were processed accordingly.

In addition, it said 1,734 shareholders accepted their rights issue in full totalling 5,931,501,457 ordinary shares, out of which 738,731,071 ordinary shares were traded on the floor of the NSE.

Also, 92 shareholders with a provisional allotment of 395,875,060 ordinary shares partially accepted their rights for 202,401,994 ordinary shares.

Lafarge Africa said as a result of the above, the balance of 193,473,066 ordinary shares were renounced, with 34 subscribers purchasing rights of 738,731,071 ordinary shares on the floor of the NSE.

It was further said that of the 1,734 shareholders who took up their rights in full, 734 shareholders also applied for additional 1,300,463,805 ordinary shares and were allotted in full from the renounced rights, while a total of 1,106,990,739 ordinary shares were fully renounced, bringing the total number of shares renounced to 1,300,463,805 ordinary shares.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

Economy

Strategic Crypto Investing Today: Investor SJMine With AI-Powered Market Intelligence

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SJMine

The crypto market is no longer being dictated by speculation and trends of trading in the short run. With the evolution of digital assets, investors demand more structured, data-driven and technology-supported strategies that are more stable, transparent, and have long-term potential. With all these changes, platforms with built-in artificial intelligence, cloud computing, and high-end hashing infrastructure are altering the way crypto participation operates.

SJMine is at the heart of this change. Created to empower the modern investors, SJMine offers an up-to-date and polished crypto-investing experience of automation, smart analytics, and adaptable investment design to enable users to strategically engage in the digital economy.

A New Standard for Strategic Crypto Participation

The investors of today require a higher level of access to digital assets than just a basic one. They desire systems that are capable of responding to market signals, adapting the conditions of the network, and functioning on a large scale. To satisfy this need, SJMine implements AI-based market intelligence within its operations.

The platform dynamically manages the allocation of hashing and computing performance by the use of continuous data analysis. This smart automation provides freedom to the users to control hardware, technical measurements, or manually react to market changes. Rather, the investors have access to a professionally managed environment whereby technology labors tirelessly behind the scenes to bring about consistency and efficiency.

How SJMine Redefines Investor Experience

SJMine is a building that is planned to be very accessible and sophisticated. The platform eliminates any technical obstacles in tradition and supports infrastructure at an enterprise level. The cloud computing system allows it to perform smoothly and its AI-based systems would make sure that the resources are used optimally at any given time.

Key strengths of the SJMine ecosystem include:

  • AI-Driven Optimization: Intelligent algorithms analyze performance data and adjust operations dynamically.
  • High-Performance Hashing Systems: Advanced infrastructure supports efficient blockchain participation.
  • User-Friendly Interface: A clean, intuitive dashboard provides real-time insights into earnings and contract status.
  • Sustainability Focus: Optimized energy usage and modern data centers support responsible long-term operations.
  • Transparent Returns: Clearly defined contract terms with visible daily earnings.

This mixture is what renders SJMine appropriate to simple new investors as well as sophisticated investors who want efficiency and scalability.

Flexible Contracts Built for Diverse Investment Goals

SJMine has diverse flexible contracts that can be used to meet various budgets and investment schedule. Long-term strategic decisions or short-term plans are well developed with simple and predictable results.

Below is an overview of the flexible contract plans available on SJMine:

Contract Amount Contract Duration Daily Earnings Total Income (Principal + Profit)
$15 1 Day $0.60 $15 + $0.60
$100 2 Days $4.00 $100 + $8.00
$600 6 Days $7.68 $600 + $46.08
$1,200 10 Days $16.32 $1,200 + $163.20
$3,200 22 Days $45.44 $3,200 + $999.68
$9,000 30 Days $147.60 $9,000 + $4,428.00

For the most accurate and up-to-date contract information, investors are encouraged to refer directly to the official SJMine website: http://sjmine.com.

Getting Started: Simple Registration with a Welcome Bonus

SJMine puts a lot of emphasis on ease of access, and the process of onboarding is quick and simple. It can take a few minutes before new users start getting acquainted with the platform.

How to register on SJMine:

  1. Visit the official website at http://sjmine.com
  2. Click on Register and create your account by entering basic details
  3. Complete the verification process and log in to your dashboard
  4. Register now and receive a $15 welcome bonus, allowing you to experience the platform with minimal initial risk
  5. Select a contract that matches your investment strategy and activate it

AI-Powered Market Intelligence: The Core Advantage

SJMine is a unique company with its AI-based market intelligence that is constantly analyzing the performance of the blockchain and the conditions of the network. This dynamic flexibility leads to better utilization of resources, minimization of inefficiencies, and a more intelligent, and sturdier approach to investing in the crypto market of the current era that is rapidly changing.

Conclusion

SJMine is a new view of strategic crypto investment in a world where intelligent automation is the new competitive advantage. The platform provides a modern and visionary solution to the current investors by integrating AI-related analytics, cloud computing infrastructure, flexible contract choice, and user-friendly design.

SJMine is an attractive proposal to invest in with confidence in the new technology-driven approach provided that investors are willing to abandon the old paradigm and shift to a smarter approach to crypto economy investment.

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Economy

OTC Exchange Begins Week With 0.39% Loss

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By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange fell by 0.39 per cent on Monday, January 12, after it closed higher in every trading day of last week.

The loss recorded yesterday took out N8.5 billion from the unlisted securities market, closing at N2.184 compared with the preceding session’s closing value of N2.193 trillion.

In the same vein, the NASD Unlisted Security Index (NSI) went down by 14.2 points during the session to 3,651.48 points from the 3,665.68 points it finished last Friday.

The decline was influenced by three securities, with Afriland Properties Plc down by N1.55 to end at N14.75 per unit compared with the previous N16.30 per unit, and NASD Plc declining by N1.00 to N59.00 per share from N6.00 pr share, as Food Concepts Plc slid by 34 Kobo to finish at N3.06 per unit versus N3.40 per unit.

On the flip side, three securities gained weight, with FrieslandCampina Wamco Nigeria Plc appreciating by N6.23 to N68.70 per share from N62.47 per share, Central Securities Clearing System (CSCS) Plc added 45 Kobo to close at N43.07 per unit versus N42.62 per unit, and  Geo-Fluids Plc gained 2 Kobo to settle at N6.84 per share versus N6.82 per share.

During the session, the trading volume soared by 826 per cent to 4.03 million units from 434,845 units, the trading value skyrocketed by 579.1 per cent to N46.8 million from N6.9 million, and the number of deals jumped by 118.2 per cent to 48 deals from 22 deals.

When trading activities closed for the day, CSCS Plc remained the most active stock by value on a year-to-date basis with 1.5 million units exchanged for N57.6 million, followed by Geo-Fluids Plc with 6.4 million units valued at N43.3 million, and FrieslandCampina Wamco Nigeria Plc with 379,749 units worth N24.4 million.

In terms of volume, Geo-Fluids Plc led with 6.4 million units sold for N43.3 million, trailed by Industrial and General Insurance (IGI) Plc with 2.9 million units traded for N1.9 million, and CSCS Plc with 1.5 million units valued at N57.6 million.

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Economy

Naira Appreciates to N1,421/$1 at Official Market

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By Adedapo Adesanya

The Naira appreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, January 12 by N1.71 to trade at N1,421.46/$1, in contrast to the preceding session’s N1,423.17/$1.

However, the local currency further depreciated against the Pound Sterling in the same market window yesterday by N3.81 to close at N1,915.84/£1 compared with last Friday’s price of N1,912.03/£1 and lost N3.55 on the Euro to quote at N1,661.68/€1 versus N1,658.13/€1.

In the same vein, the domestic currency depleted against the Dollar at the GTBank FX desk during the trading session by N4 to to settle at N1,431/$1 compared with the previous trading day’s rate of N1,427/$1 and closed flat in the black market at N1,490/$1.

The appreciation of the Nigerian currency against its American counterpart in the official market was supported by foreign portfolio investors’ inflow with support from non-bank corporate supply, leaving it within the N1,350/$1 – N1,450/$1.

“We anticipate that the CBN will emphasise exchange rate stability over rapid appreciation through 2026, supported by prudent policy execution and effective reserve management,” Coronation Merchant Bank research said in an update.

Despite a differential against other currencies, market analysts noted that stronger external inflows from FPIs, improving current account dynamics, and more disciplined FX management by the authorities, will give the Naira stronger footing.

As for the cryptocurrency market, most tokens tracked by this newspaper were largely down with traders seeing the market settle into equilibrium after leverage was flushed and liquidity thinned.

Market analysts noted that with spot demand soft and no clear institutional catalyst, price discovery continues to shift to where thinner liquidity and narrative trades can overwhelm fundamentals.

Litecoin (LTC) lost 4.6 per cent to trade at $76.25, Solana (SOL) depreciated by 1.6 per cent to $140.23, Cardano (ADA) slid by 1.4 per cent to $0.3914, Ripple (XRP) slumped by 0.9 per cent to $2.05, Ethereum (ETH) went down by 0.8 per cent to $3,128.74, and Dogecoin (DOGE) decreased by 0.5 per cent to $0.1392.

On the flip side, Binance Coin (BNB) appreciated by 0.3 per cent to $908.87, and Bitcoin (BTC) increased by 0.1 per cent to $91,916.73, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 apiece.

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