Unlisted Securities Market Hits N1.138trn as LBIC Joins NASD

September 14, 2023
Lagos Building Investment Company LBIC

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange’s market capitalisation jumped by 1.7 per cent or N19.1 billion to N1.138 trillion from the previous day’s N1.119 trillion as the bourse admitted Lagos Building Investment Company (LBIC) Plc on Wednesday, September 14.

The alternative stock exchange admitted 3.88 billion share capital of LBIC Plc worth N9.3 billion at a unit price of N2.40.

However, the NASD Unlisted Securities Index (NSI) went down by 6.93 points to end at 805.38 points compared with the preceding session’s 798.45 points.

This was caused by the sustained profit-taking in 11 Plc, as its value shed N3.00 to close at N160.00 per share versus Tuesday’s N163.00 per share, as FrieslandCampino Wamco Nigeria Plc lost 48 Kobo to finish at N72.81 per unit compared with the previous day’s N73.29 per unit.

But Aradel Holdings Plc gained N27.82 to sell at N564.00 per unit versus N536.18 per unit, Central Securities Clearing System (CSCS) Plc grew by 50 Kobo to N17.50 per share from N17.00 per share, NASD Plc rose by 17 Kobo to N12.82 per unit from N12.65 per unit, and Food Concepts Plc appreciated by 12 Kobo to N1.39 per unit from N1.27 per unit.

During the session, the value of trades rose by 590.9 per cent to N33.5 million from the previous session’s N4.9 million, the volume of stocks exchanged surged by 4,199.1 per cent to 1.03 million units from 23,851 units, and the number of deals jumped by 160 per cent to 26 deals from 10 deals.

CSCS Plc was the most traded stock by volume on a year-to-date basis with the sale of 1.1 billion units for N22.1 billion, UBN Property Plc was in second place with 924.2 million units valued at N917.5 million, and Industrial and General Insurance (IGI) Plc was in third place with 647.3 units worth N52.6 million.

Also, CSCS Plc ended the trading session as the most traded stock by value on a year-to-date basis with a turnover of 1.1 billion units worth N22.1 billion, VFD Group was in second position with 26.5 million units valued at N5.9 billion, and Aradel Holdings Plc was in third place with 6.0 million units worth N2.1 billion.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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