NASD OTC Market Cap Jumps to N950.80bn on Access Bank Admission

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange saw its market capitalisation hit N950.80 billion on Monday, March 28 as the bourse admitted the entire share capital of Access Bank Plc.

The tier-one lender had delisted from the Nigerian Exchange (NGX) on Thursday, 24 March 2022 following the Scheme of Arrangement in December 2021.

While the Holding company remains listed on NGX, the entire share capital of the bank valued at N353,674,994,938.90 was admitted to NASD as an Admission of Company.

This means that the bourse saw its valuation swell 59.2 per cent from the N597.13 billion it closed at the preceding session, which was last Friday.

The new admitted company has a quoted price of N9.95 with a total of 35,545,225,622 units issued.

At the market yesterday, the NASD Unlisted Security Index (NSI) remained unchanged at 723.12 points, though the market ended with a price advancer and a decliner.

An oil and gas investment company, Niger Delta Exploration and Production (NDEP) Plc, appreciated by N3 or 1.7 per cent to settle at N180.00 per unit versus the previous N177.00 per unit, while NASD Plc lost N1.25 or 9.9 per cent to trade at N12.59 per share in contrast to N13.84 per share of last Friday.

At the close of transactions, investors traded a total of 3.5 million units of securities in contrast to the 5.3 million units of securities transacted at the preceding session, indicating a drop of 34.7 per cent.

The value of shares exchanged by the market participants depreciated by 70.3 per cent to N22.4 million from N75.2 million, while the number of deals went down by 20 per cent to eight deals from 10 deals.

AG Mortgage Plc remained as the most traded stock by volume on a year-to-date basis with 2.3 billion units valued at N1.2 billion, followed by Central Securities Clearing System (CSCS) Plc with 658.8 million units worth N13.8 billion, and NASD Plc with 41.7 million units valued at N444.4 million.

The most traded stock by value on a year-to-date basis was, however, CSCS Plc with 658.8 million units exchanged at N13.8 billion, trailed by AG Mortgage Plc with 2.3 billion units worth N1.2 billion, and NASD Plc with 41.7 million units valued at N444.4 million.