NASD Exchange Stays Green on Food Concepts’ Growth

By Adedapo Adesanya

Food Concepts Plc ensured that the bulls remained at the NASD Over-the-Counter (OTC) Securities Exchange as it singlehandedly lifted the market by 0.07 per cent on Friday, November 13.

Stocks of the company, which owns the popular food chains, Chicken Republic and Pie Express, appreciated by 6 kobo or 3.81 per cent to close at N0.80 per share in contrast to N0.74 per share it closed the day before.

The growth posted by the firm moved the market capitalisation of the bourse higher by N360 million, closing at N533.33 billion in contrast to N532.97 billion it finished at the previous session.

In the same vein, the performance of the organisation at the exchange lifted the NASD Unlisted Security Index (NSI) by 0.07 per cent or 0.48 points to end the day at 726.04 points as against 725.56 points it recorded at the previous session.

In terms of volume of securities traded at the bourse on Friday, investors exchanged 5.0 million units, 69,989.3 per cent higher than 7,202 units of securities transacted by market participants on Thursday.

These trades came from eight deals, higher than the two deals of the prior day by 300 per cent.

It was observed that the deals were executed on four companies led by Central Securities Clearing Systems (CSCS) Plc which registered three deals, FrieslandCampina WAMCO Nigeria Plc and Food Concepts Plc, which executed two deals each and UBN Properties Plc, which accounted for a single deal.

All these transacted amounted to N6.9 million, 592.7 per cent higher than the N1.0 million made on Thursday.

At the close of transactions, ARM Life Plc closed as the company with the highest number of shares traded by investors (year-to-date) with 7.4 billion units worth N4.6 billion. CSCS Plc was in second place with 203.5 million units worth N2.7 billion, while Food Concepts Plc held the third position with 133.1 million units of its shares worth N94.1 million.

Equally, ARM Life Plc also remained the firm with the highest value of transactions (year-to-date) for trading 7.4 billion units worth N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc came next with 10.9 million units valued at N3.4 billion, while CSCS Plc traded 203.5 million units valued at N2.7 billion.