Economy
NGX Group Finally Lists 1.964 billion Shares, Trades at N17.75
By Aduragbemi Omiyale
A total of 1,964,115,918 shares, representing the issued share capital of the Nigerian Exchange (NGX) Group Plc, were successfully listed on the trading platform of NGX Limited on Friday, October 15, 2021.
Business Post reports that the stocks were listed on the exchange today by introduction at a unit price of N17.75, higher than the N14.68 per unit it last traded on the NASD Securities Exchange on Friday, October 8, 2021, it the shares used to be traded.
This newspaper gathered that at the exchange today, investors traded about 3.6 million units of the company’s equities worth N63.2 million in 31 deals and closed flat at N17.75.
It was listed on the main board of the NGX having satisfied the listing requirements of the exchange and obtained relevant regulatory approvals.
The company is on the bourse in the financial services and capital market infrastructure sector, with the ticker NGXGROUP.
The top members of staff of the company were honoured today with the closing gong ceremony and the Chairman, Mr Abimbola Ogunbanjo, in his speech, stated that, “Today’s listing of NGX Group on NGX is another milestone attained pursuant to the group’s 2018 – 2021 corporate strategy.
“Our shareholder base has more than doubled since our demutualisation in March 2021 and our valued shareholders will benefit from the enhanced liquidity that listing on the exchange will facilitate.
“This listing will also enable a much wider universe of potential investors and market participants to share in our growth journey.
“As a board, we embrace the letter and spirit of the listing requirements and we are committed to transparent disclosure, proactive stakeholder engagement and exemplary corporate governance.”
Also speaking, the Group Managing Director/Chief Executive Officer of NGX Group, Mr Oscar Onyema, disclosed that, “Today’s listing of NGX Group on the nation’s premier exchange will enable institutional investors globally as well as the Nigerian public to invest in Nigerian Exchange Group Plc.
“With strengthening market dynamics, serving the largest economy in Africa, NGX Group’s listing allows us to expand in key capital market infrastructure verticals and look beyond Nigeria’s borders, as we deliver on our growth plans to become Africa’s leading capital market infrastructure group.”
As for the CEO of NGX, Mr Temi Popoola, he described the listing as a milestone, expressing his excitement about the development.
“We congratulate the board and management first on a successful demutualisation and on its subsequent listing. This move is particularly exciting, as it will position NGX Group to provide liquidity to members while stimulating the capital market ecosystem to grow at the same pace as the economy.
“Today, we reiterate our commitment to being a trusted partner to NGX Group and other listed companies as we continue to build a platform that allows our listed companies, investors and other stakeholders to maximise value in our market,” he said.
By Dipo Olowookere
Investors bought and sold 3.132 billion shares worth N76.552 billion in 61,456 deals at the Nigerian Exchange (NGX) Limited last week compared with the 2.252 billion shares valued at N58.831 billion traded in 63,657 deals in the preceding week.
Wema Bank, Secure Electronic Technology, and Access Holdings were the busiest equities during the week with the sale of 1.437 billion units valued at N15.406 billion in 5,292 deals, contributing 45.89 per cent and 20.13 per cent to the total trading volume and value, respectively.
In the week, financial stocks dominated the activity chart with 2.336 billion units worth N33.014 billion in 27,100 deals, contributing 74.59 per cent and 43.13 per cent to the total trading volume and value, respectively.
Services shares recorded 284.988 million units valued at N807.646 million in 4,638 deals, and consumer goods equities sold 139.010 million units for N5.704 billion in 6,469 deals.
Business Post reports that 44 stocks appreciated in the period under review versus 33 stocks of the preceding week, 44 equities also depreciated last week compared with the previous week’s 57 equities, and 64 shares closed flat, in contrast to the 62 shares recorded a week earlier.
SCOA Nigeria gained 59.68 per cent to trade at N3.96, UPDC appreciated by 19.05 per cent to N2.00, Coronation Insurance rose by 15.32 per cent to N2.56, Royal Exchange leapt by 14.61 per cent to N1.02, and DAAR Communications expanded by 13.51 per cent to 84 Kobo.
On the flip side, Sunu Assurances depleted by 25.11 per cent to N5.01, Eunisell lost 18.95 per cent to close at N12.66, John Holt went down by 18.47 per cent to N8.30, Abbey Mortgage Bank slumped by 14.60 per cent to N3.10, and Cornerstone Insurance depreciated by 14.29 per cent to N3.48.
After the five-day trading week, the All-Share Index (ASI) and the market capitalisation appreciated by 1.22 per cent and 1.26 per cent, respectively to 103,598.30 points and N63.645 trillion.
In the same vein, all other indices finished higher apart from the insurance, consumer goods, energy and sovereign bond indices, which depreciated by 1.20 per cent, 1.20 per cent, 0.93 per cent and 0.10 per cent, respectively while the ASeM index closed flat.
By Dipo Olowookere
It was a good day for the stock market in Nigeria as it appreciated by 0.79 per cent on Friday to bring the year-to-date return to 0.66 per cent.
This was influenced by renewed interest across most of the sectors of the market, though the insurance index declined by 2.15 per cent when trading activities ended for the session.
Business Post reports that the banking counter appreciated by 1.97 per cent, the consumer goods space grew by 0.70 per cent, the industrial goods sector gained 0.09 per cent, and the energy counter closed flat.
Yesterday, the All-Share Index (ASI) increased by 810.26 points to 103,598.46 points from the preceding day’s 102,788.20 points and the market capitalisation by N497 billion to N63.645 trillion from Thursday’s N63.148 trillion.
Chellaram was the biggest price gainer on Friday after it chalked up 10.00 per cent to trade at N4.07, Guinness Nigeria also appreciated by 10.00 per cent to N77.00, SCOA Nigeria improved by 10.00 per cent to N3.96, Transcorp Power jumped by 7.96 per cent to N349.80, and Lasaco Assurance went up by 7.19 per cent to N3.28.
Conversely, Neimeth was the biggest price loser as it shed 9.88 per cent to N3.10, John Holt declined by 9.78 per cent to N8.30, International Energy Insurance depleted by 9.74 per cent to N1.76, Sovereign Trust Insurance fell by 9.40 per cent to N1.06, and Austin Laz lost 9.00 per cent to close at N1.82.
As for the activity chart, a total of 576.4 million stocks valued at N9.0 billion in 11,546 deals compared with the 394.4 million stocks worth N22.8 billion traded in 12,160 deals in the preceding session, indicating a rise in the trading volume by 46.15 per cent, and a decline in the trading value and number of deals by 60.53 per cent and 5.05 per cent.
Secure Electronic Technology was the busiest equity with 202.2 million units worth N151.8 million, Nigerian Breweries traded 42.1 million units valued at N1.3 billion, Japaul exchanged 34.6 million units for N79.7 million, Access Holdings sold 32.2 million units valued at N807.0 million, and Sovereign Trust Insurance traded 17.0 million units worth N18.3 million.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.42 per cent gain on Friday, January 24 after three equities ended on the advancers’ chart at the close of business.
Nipco Plc gained N15.01 during the trading day to close at N165.11 per share versus N150.10 per share of the preceding session, Okitipupa Plc added N4.79 to end the session at N52.69 per unit compared with Thursday’s trading value of N47.90 per unit, and Central Securities Clearing System (CSCS) Plc expanded by 80 Kobo to trade at N24.00 per share, in contrast to the N23.30 per share it was sold a day earlier.
The gains recorded by these stocks pushed the value of the bourse higher by NN7.41 billion to N1.775 trillion from the N1.767 trillion recorded in the preceding session and the NASD Unlisted Security Index (NSI) grew by 6.93 points to wrap the session at 3,133.20 points compared with 3,120.13 points recorded in the previous session.
Yesterday, the price of FrieslandCampina Wamco Nigeria Plc went down by 92 Kobo to end the session at N38.58 per share, in contrast to the previous day’s N39.50 per share.
The volume of securities traded in the session decreased on Friday by 95.9 per cent to 16.3 million units from 407.4 million units, the value of shares traded yesterday slumped by 97.4 per cent to N10.2 million from N391.2 million units, and the number of deals declined by 23.3 per cent to 23 deals from 30 deals.
Impresit Bakolori Plc was the most active stock by value (year-to-date) with 406.5 million units worth N386.1 million, followed by FrieslandCampina Wamco Nigeria Plc with 4.3 million units valued at N170.4 million, and Geo-Fluids Plc with 9.1 million units sold for N44.3 million.
Impresit Bakolori Plc was also the most active stock by volume (year-to-date) with 406.5 million units worth N386.1 million, trailed by Industrial and General Insurance (IGI) Plc with 26.3 million units sold for N6.3 million, and Geo-Fluids Plc with 9.2 million units valued at N44.3 million.
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