Stories by Amaka Ifeakandu
Trading activities on the floor of Nigerian Stock Exchange last week close higher, gaining, N235 billion.
Specifically, market capitalisation of listed equities appreciated by 1.80 per cent to N13.009 trillion from N12.774 trillion recorded the previous week. Also the NSE All Share Index increased by 1.84 per cent or 662.33 basis points to 37365.91 from 36703.58 traded the previous week.
Similarly, all other indices took upward trend during the week with the exception of the NSE Oil/Gas Index which depreciated by 1.45 per cent while the NSE ASeM Index closed flat.
NSE Premium Index grew by 101.50 to 2,606.66, The NSE main board index appreciated by 6.43 to 1,158.74 points, NSR 30 index 22.53 to 1,691.70 , NSE Banking index 2.07 to 464.12 , NSE Insurance index added 1.10 to 138.02, NSE Consumer Goods index 16.71 to 906.42 points, NSE Lotus II 98.40 to 2,408.09 while industrial goods 46.43 to 2,098.97 points.
The trading result showed that investors during the week traded a turnover of 2.182 billion shares worth N22.795 billion in 17,019 deals in contrast to a total of 2.804 billion shares valued at N54.776 billion that exchanged hands last week in 17,792 deals.
The Financial Services Industry led the activity chart in volume terms with account of 1.755 billion shares valued at N11.571 billion traded in 8,730 deals; contributing 80.44 per cent and 50.76 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 178.154
million shares worth N8.655 billion in 4,457 deals. The third place was occupied by Services Industry with a turnover of 143.821 million shares worth N92,479 million in 470 deals.
Trading in the top three equities namely – Wapic Insurance Plc, Zenith International Bank Plc and United Bank for Africa Plc accounted for 973.088 million shares worth N5.854
billion in 2,493 deals, contributing 44.59 per cent and 25.68 per cent to the total equity turnover volume and value respectively.
A review of the investment indicated that 36 equities appreciated in price during the week, against 20 of the previous week. The result showed that 24 firms depreciated in price, lower than 43 equities of the previous week, while 111 equities remained unchanged compared with 108 equities recorded in the preceding week.
The analysis of transactions showed that Dangote Sugar Refinery led gainers table, increasing by 20.32 per cent or N2.91 kobo to close at N17.24 kobo, Linkage Assurance followed with a gain of 14.29 per cent or N0.08 kobo to close at N0.64 kobo, International Breweries gained 11.97 per cent or N6.20 kobo to close at N58.00. Other companies appreciated in price were N. E. M insurance company Nigeria Plc 9.77 per cent, Unilever Nigeria Plc 9.07 per cent, Nigeria Aviation Handling Company 8.03 per cent, Custodian and Allied Plc 6.67 per cent, Eterna Plc 6.38 per cent, Fidelity Bank Plc 6.25 per cent.
Forte Oil Plc on the other hand, topped losers chart during the day, shedding 17.73 per cent or N8.62 kobo to close at N40.00, Glaxo Smithkline Consumer Nigeria plc trailed with a loss of 9.70 per cent or N2.45 kobo to close at N22.80 kobo, C& I Leasing Plc down by 7.64 per cent or N0.11 kobo to close at N1.33 kobo. Other firms depreciated in price were UACN Property Development Company Limited 6.67 per cent, Nigeria Breweries Plc 6.29 per cent, Law Union and Rock Insurance 6.15 per cent, Unity Bank Plc 5.66 per cent, Caverton Offshore Support GRP Plc 5.30 per cent, Julius Berger Nigeria Plc 4.53 per cent, Cement Company of Northern Nigeria plc 3.24 per cent
Also traded during the week were a total of 127 units of Exchange Traded Products (ETPs) valued at N13,837.30 executed in five deals meanwhile there were no trades recorded the previous week
A total of 9,024 units of Federal Government Bonds valued at N9.485 million were traded this week in 15 deals, compared with a total of 5,950 units valued at N6.247 million transacted last week in 2 deals.
Larfarge Africa to raise N131.6bn through right issue
Lafarge Africa is seeking to raise a total of N131.623 billion by way of right issue through the existing shareholders. The company offered for subscription 3,097,653,023 ordinary shares of N0.50 kobo at the rate of N42.50 kobo. The right will be issued on the basis of five (5) new ordinary shares for every nine (9) ordinary shares held as at 01 November 2017. The right opened on friday November 24 , 2017 while trading on the right would commence on November 27, 2017.
A statement by Godstime Iwenekhai, Head, Listings Regulation Department said trading of in the rights will however commence on Monday, November 27, 2017, due to the company’s delay in communicating the Securities & Exchange Commission (SEC) approval to the Nigerian Stock Exchange (NSE) for the creation of a code.
The rights issue, which represents a 17.44 per cent discount on Lafarge’s traded price as at Friday, September 22, is scheduled to close on Friday, December 15, 2017.
The offer follows a fusion of its subsidiaries like: United Cement Company of Nigeria Limited and Atlas Cement Company into Lafarge Africa Plc.
The merger, according to a notice by Edith Onwuchekwa (Mrs), the company secretary and legal director, “will enable the enlarged Lafarge Africa to take advantage of benefits arising from various synergies as well as benefit from efficiencies arising from streamlining the operations of UniCem and Atlas.”
The company, she assured, “will continue to efficiently service its large, diversified customer base.”
Meanwhile, an additional units of 85,261,220 Ordinary Shares of Lafarge Africa Plc were listed on the Daily Official List of The Exchange last week. The shares listed
were issued to shareholders of AshakaCem Plc in exchange for their shares in AshakaCem pursuant to a scheme of arrangement for capital re-organisation between AshakaCem and holders of its fully paid ordinary shares of 50k each dated 26 September 2017. With this
additional listing of 85,261,220 ordinary shares, the total issued and fully paid up shares of Large Africa Plc has now increased from 5,490,513,997 to 5,575,775,217 ordinary shares.
