By Adedapo Adesanya
The value of equities on the NASD Over-the-Counter (OTC) Securities Exchange increased significantly last week as a result of the admission of Access Bank Plc on the bourse.
Last week, which was the 13th trading week of the year 2022, the NASD OTC valuation rose by N355.49 billion to N952.62 billion from the N597.13 billion recorded in Week 12.
Access Bank Plc listed about 35.545 billion shares on the NASD OTC exchange in the week valued at N353.674, according to trading data.
Business Post had reported that tier-one bank delisted from the Nigerian Exchange (NGX) Limited on Thursday, March 24, 2022, following the Scheme of Arrangement in December 2021.
While the holding company, Access Holdings Plc, remains listed on the local bourse, the entire share capital of Access Bank Plc was admitted at N9.95 to NASD as an Admission of Company on Monday, March 28, 2022.
In the week, the NASD Securities Index (NSI) closed higher by 0.19 per cent or 1.37 basis points to 724.49 points from 723.12 points in the previous week.
According to trading data, there was a 96.3 per cent decrease in the total value of shares transacted last week by investors to N48.2 million from N1.3 billion as the trading volume went down by 99.7 per cent to 7,357,225 units from 2,258,923,086 units, while the number of deals rose by 33.3 per cent to 28 deals from 21 deals.
At the close of the week, Industrial and General Insurance (IGI) Plc was the most traded security by volume with 2.2 billion units, NASD Plc traded 268,170 units, Food Concepts Plc exchanged 163,738 units, Afriland Plc traded 123,500 units, while Central Securities Clearing Systems (CSCS) Plc recorded 94,200 units.
But by volume, Niger Delta Exploration and Production (NDEP) Plc topped the chart with N22.3 million, FrieslandCampina Wamco Nigeria Plc recorded N20.4 million, NASD Plc traded N3.2 million, CSCS Plc transacted N1.6 million, while IGI Plc posted N528,000.
During the week in review, CSCS Plc recorded the highest increase in share price with 1.9 per cent to close at N17.33 per unit in contrast to the preceding week’s N17.00 per unit. It was followed by NDEP Plc with a 1.7 per cent rise to N180.00 per share from N177.00 per share, and Friesland Campina Wamco Nigeria Plc with a 0.4 per cent increase to N125.00 per unit from N124.50 per share.
However, NASD Plc recorded the biggest price decline as it fell by 13.3 per cent to N12.00 per unit from N13.84 per unit, while Afriland Properties Plc lost 3.5 per cent to trade at N1.09 per share compared with the previous week’s N1.13 per share.
On a year-to-date basis, the unlisted securities market has recorded a loss of 2.5 per cent amid the exchange of 3,004,575,282 units of securities worth N16.3 billion in 549 deals.
Modupe Gbadeyanka