Capital Market

Restructuring: 7-UP Major Owner Raises Offer Price To N125 Per Share

By Nse Anthony-Uko Seven-Up Bottling Company (7UP) announced that its majority shareholder, Affelka S.A, a privately-owned Lebanese firm, has revised the scheme consideration upward to N125 per share. It would be recalled that Seven-Up Bottling has received an offer from its majority shareholder, Affelka to buy out the minority shareholders for N19.33 billion ($60 million). Affelka has offered to buy ...

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Vitafoam To Pay N156.3m Dividend For 2017

By Nse Anthony-Uko (Sundiata Finance) — The board of directors of Vitafoam Nigeria Plc on Monday recommended a total dividend payout of N156.3 million to its shareholders for the financial year ended September 30, 2017. Shareholders will be paid 15 kobo per share and the dividend is subject to shareholders’ approval and withholding tax. If approved at the Annual General ...

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Flourmills To Commences N39.9bn Rights Issue

By Nse Anthony-Uko (Sundiata Finance) – Flour Mills of Nigeria (FMN) Plc at the weekend said it would be raising an additional capital of N39.9 billion through its existing shareholders. Following the receipt of shareholders’ approval in May 2015 to raise additional capital through rights issue, the company had received clearance of the issue documents from the Securities and Exchange ...

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Nigeria’s NSE Gains 41.3%, Emerges World’s 3rd Best In 2017

By Nse Anthony-Uko (Sundiata Finance) – The Nigerian Stock Exchange (NSE) has emerged as the world third best performing stock market for 2017 among major global stock exchanges. Its 41.30 per cent year to date return (YTD) as of Friday- last closing day of the year is behind Argentina’s Buenos Aires Stock Exchange Merval Index (+77.2% year-to date), and Turkey’s ...

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Dangote Sells $350m Stake In Cement Firm To Foreign Investor

(Sundiata Finance) – Dangote Cement on Monday sold 550 million shares worth $350 million at N225.7 each to the African Fun of a foreign investment company, in a one-stock market deal. The deal was between seller Meristem Stockbrokers Ltd standing as an intermediary for Dangote and buyer CSL Stockbrokers Ltd who also stood as an intermediary for an African fund ...

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Equities Market Loses N170bn

By Nse Anthony-Uko (Sundiata Finance) — The Nigerian Stock Excgange (NSE)equities market, Monday lost N170 billion, beginning the week in the red. In summary, the All Share Index (ASI) shed 478.12 absolute points, representing a decline of 1.24 per cent to close at 37,957.96 points. However, the market capitalisation shed N170 billion to close at N13.508 trillion. The downturn was ...

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Union Bank Lists Additional 51.3m Shares On NSE

By Nse Anthony-Uko The Nigerian Stock Exchange (NSE) has admitted an additional volume of 51.3 million ordinary shares of 50 kobo each of Union Bank of Nigeria Plc on the daily official list of the Exchange. The additional shares were listed on NSE on December 4, 2017 and the shares arose from the bank’s Long Term Transformation Incentive Plan (LTTIP). ...

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Stock Market Heads For Impressive Performance To Close 2017

By Nse Anthony-Uko (Sundiata Finance) – Equities trading on the Nigerian Stock Exchange (NSE) for the month of December began on the positive note, as capital market operators see stocks market record overall impressive performance for the year and a positive December ending. Research has shown that for 13 years, from 1998 to 2016, the month of December on the ...

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NSE-ASI Declines By 0.31% Amid Profit Taking

By Nse Anthony-Uko (Sundiata Finance) — The Nigerian equities market, on Monday shed 0.31 per cent, beginning the week in the red and bringing to a halt bullish run of three consecutive trading sessions amid profit taking. In summary, the All Share Index (ASI) shed 115.13 absolute points, representing a decline of 0.31 per cent to close at 37,250.78 points. ...

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