Tag Archives: NSE

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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Nigerian Stock Market Upbeat, Crosses 40,000 Points To 4-year High

By Nse Anthony-Uko (Sundiata Finance) – Nigerian stocks have rallied to their highest level since 2014, as the dust settles on a bruising economic recession that hammered company profits and share prices. The All Share Index (ASI) rose 1.29 per cent to 40,362.97 points Tuesday, January 9, according to data available on the website of the Nigerian Stock Exchange, its ...

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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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NSE Lists FGN $300m Diaspora Bond, $3bn Eurobonds On Platform

FG restates commitment to reduce cost of debt By Nse Anthony-Uko (Sundiata Post) – The Nigerian Stock Exchange (NSE) has admitted the FGN 30 year $1.5 billion Euro Bond, FGN 10 year $1.5 billion Euro Bond and FGN five year $300 million Diaspora Bond on its daily official list of the Exchange. Also, the Debt Management Office (DMO) stated that ...

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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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Banks Earn 64% of NSE 30 Profits In Q3

(Sundiata Finance) — Banks accounted for 64.2 per cent of NSE 30 Index’s profits earned in the first nine months of 2017 as the sector provides over 50 per cent liquidity on the exchange. Zenith Bank, Ecobank Transnational, Guaranty Trust Bank (GTBank), First Bank Nigeria Holdings, Stanbic IBTC Holdings, United Bank for Africa (UBA), Union Bank of Nigeria (UBN) and ...

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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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