Photo L-R: Nigeria’s foremost Stand-up Comedian and Actor, Ali Baba; Chief Human Resources Officer, Nigerian Stock Exchange (NSE), Pai Gamde; former First Lady of Lagos State and Chairman, Learn NGO/Ella Care, Dame Abimbola Fashola, and Director General, NSE, Oscar Onyema, during the NSE International Women’s Day Symposium on the theme, “Press for Progress” held at The Exchange in Lagos.
The Securities and Exchange Commission (SEC) has extended its free e-dividend registration deadline to March 31, the News Agency of Nigeria learnt on Wednesday.
A senior management staff in the commission, who pleaded anonymity made the disclosure in an interview in Lagos.
The official said that the deadline was extended in principle for the third time for the operators to clear their e-dividend backlogs.
The e-dividend refers to online payment of dividends to investors rather than through post.
The domestic bourse closed on a negative note on Wednesday as the All Share Index fell 1.5% to settle at 42,952.70 points while YTD return moderated to 12.3%. Accordingly, investors lost N236.1bn in value as market capitalisation declined to N15.4tn. The bearish performance was majorly due to sell offs in market bellwethers- DANGCEM (-3.6%), NIGERIAN BREWERIES (-3.4%) and GUARANTY (-1.9%). Consequently, activity level weakened as volume and value traded fell 39.3% and 13.1% to 270.3m units and N5.2bn respectively.
Operators in the Nigerian Stock Exchange (NSE) on Monday said that delay in the passage of the 2018 budget would negatively affect the capital market.
Some of them expressed optimism that the 2017 earnings anticipated by investors this week would boost activities on the Exchange.
They told the News Agency of Nigeria in Lagos that the market would close upbeat as more companies would declare positive results.
The Managing Director, APT Securities and Funds Ltd, Garba Kurfi, Lagos said there was the need for the National Assembly to pass the budget.
Photo L-R: Bola Adeeko, Head, Shared Services Division, The Nigerian Stock Exchange (NSE); Simidele Adeagbo, Olympian and Skeleton Athlete; Oscar Onyema, Chief Executive Officer, NSE; Seun Adigun, the Olympia and Captain of Bobsled and Skeleton Federation; Tinuade Awe, Executive Director, Regulation, NSE and Ade Ewuosho, Ag. Head, Trading Business Division, NSE during the Closing Gong Ceremony at the Exchange today in commemoration of first African and Nigerian Bobsled team and a Skeleton Athlete who participated at the winter Olympics in South Korea.
Trading session started on a flat note today but turned negative at the close of trade as the All Share Index fell 1.1% to settle at 42,843.38 points while YTD return contracted to 12.0%. Profit taking in DANGCEM (-1.8%), NIGERIAN BREWERIES (-3.6%) and GUARANTY (-2.0%) weighed heavily on today’s performance. Consequently, investors lost N174.8bn in value as market capitalization fell to N15.4tn. Similarly, activity level declined as volume and value traded fell 35.0% and 54.9% to 371.2m units and N4.9bn respectively.
MTN plans to list its Nigerian unit worth $5.23 billion by July in a debut IPO on the Lagos bourse and will raise fresh funds to reduce debt, according to pre-IPO presentation seen by Reuters.
MTN aims to raise at least $400 million from the IPO to pay preference shareholders and is preparing to file application to the Securities and Exchange Commission to launch the offer after getting approvals from existing investors last week, sources with knowledge of the matter said.
The Domestic bourse appreciated today following renewed interest in market bellwethers, hence the All Share Index rose 2.4% to settle at 43,330.54 points while YTD return improved to 13.3%. Buying interest in DANGCEM (+5.0%), NIGERIAN BREWERIES (+4.5%) and NESTLE (+3.0%) buoyed performance. As a result, investors’ wealth increased by N370.0bn as market capitalization jumped to N15.5tn. In the same vein, activity level increased as volume and value traded inched 30.3% and 22.7% higher to 438.6m units and N10.8bn respectively.
African Export-Import Bank (Afreximbank) plans to sell shares in Nigeria and two other African countries to support lending and broaden its ownership base.
The Cairo-based lender is in talks with Nigerian regulators to issue depositary receipts and raise equity worth $200 million by the third quarter, Afreximbank said in an emailed response to questions, the Voice of Nigeria reports.
It is still considering the other markets and will release details once discussions have been finalized, the company said.