Unlisted Securities Value Rises 2.48% as InfraCredit Joins Platform

By Adedapo Adesanya

The market capitalisation of the NASD Over-the-Counter (OTC) Securities Exchange got a 2.48 per cent rise on Friday, March 7 after admitting Infrastructure Credit Guarantee Company (InfraCredit) Plc to the alternative stock exchange.

InfraCredit is a specialized credit guarantee institution established in June 2017 by the Nigerian Sovereign Investment Authority (NSIA) and GuarantCo to provide local currency guarantees and mobilise long term domestic debt financing for infrastructure in Nigeria.

A total of 15,255,079,725 securities of the organisation at the unit price of N2.43, totaling N37.07 billion, were admitted to the platform. When trading activities ended yesterday, increasing the value of the market by N47 billion to N1.946 trillion from N1.899 trillion.

As for the NASD Unlisted Security Index (NSI), it went up by 0.52 per cent or 17.45 points to close at 3,370.39 points compared with the preceding day’s 3,352.94 points.

The sole price gainer for the session was Okitipupa Plc, which further improved its share price by N26.41 to close at N298.00 per unit, in contrast to Thursday’s price of N271.59 per unit.

On the flip side, Central Securities Clearing System (CSCS) Plc lost 48 Kobo to sell at N23.02 per share compared with the previous day’s N23.50 per share, FrieslandCampina Wamco Nigeria Plc declined by 5 Kobo to sell for N37.00 per unit versus the previous session’s N37.05 per unit, and Industrial and General Insurance (IGI) Plc dropped 4 Kobo to close the day at 39 Kobo per share, in contrast to the 43 Kobo per share it was sold a day earlier.

The volume of securities transacted by investors slumped by 50.3 per cent to 1.1 million units from the 2.2 million units transacted in the previous trading day, the value of transactions slid by 72.5 per cent to N21.9 million from N79.4 million, while the the number of deals went down by 62.2 per cent to 14 deals from 37 deals.

At the close of business, Impresit Bakolori Plc remained the most active stock by volume (year-to-date) with 533.9 million units worth N520.9 million, trailed by Industrial and General Insurance (IGI) Plc with 69.9 million units worth N23.7 million, and Afriland Properties Plc with 17.2 million units sold for N352.7 million.

Also, Impresit Bakolori Plc was the most active stock by value (year-to-date) with 533.9 million units worth N520.9 million, followed by FrieslandCampina Wamco Nigeria Plc with 11.6 million units valued at N452.7 million, and Afriland Properties Plc with 17.2 million units sold for N352.7 million.