Business Capital Market

FG partners NSE to list $1bn Eurobond

Ihesiulo Grace 2 March 2017 0

The Nigerian Stock Exchange (“NSE” or “The Exchange”) will on Thursday 2nd March 2017 list of $1 billion Federal Government (FGN) Eurobond issued under Nigeria’s newly established Global Medium Term Note programme. This 15-year domestic Sovereign Eurobond priced at par and at a coupon of 7.875

Business Capital Market

Negative sentiments: Investors stake N2.4bn on 228m shares

Ihesiulo Grace 2 March 2017 0

Negative market sentiment on Wednesday drove investments lower as N2.4 billion was staked on 228 million shares by investors in 2,958 deals. The decreased turnover was in contrast to 444.5 million shares valued at N3.6 billion in 3336 deals traded on Monday. The Oil and Gas Index was the only sector which closed higher with […]

Business Capital Market

Union Bank, AG Leventis free float deficiency deadline ends Q1, Q2

Ihesiulo Grace 1 March 2017 0

The free float grace given by the Nigerian Stock Exchange (NSE) to Union Bank Nigeria PLC and A.G Leventis Plc will end in the first and second quarters 2017. While that of A.G Leventis will end in the first quarter ending March 31, 2017, tat of Union Bank will also expire at the end of […]

Business Capital Market

‎Zenith Bank to raise N100 billion from capital market

Ihesiulo Grace 1 March 2017 0

Following the release of Zenith Bank’s full year results on Monday, reports reaching Daily Times, discloses the lender seeks additional N100 billion from the capital market if approved by its shareholders. According to the report from Reuters, “Zenith Bank said on Tuesday it would seek shareholder approval next month to raise N100 billion via a […]

Business Capital Market

SEC to partner global experts on mergers and acquisitions

Ihesiulo Grace 1 March 2017 0

The Nigerian business community is positioning to be reckoned with in mergers and acquisitions as the Securities and Exchange Commission (SEC) has expressed its readiness to cooperate with global agencies to ensure sustainable growth of Mergers and Acquisitions (M&A) in the country. Mounir Gwarzo, Director General of SEC, revealed this when a delegation of experts

Business Capital Market

Zenith Bank posts 65% boost in PBT as PAT declines by -61%

Ihesiulo Grace 28 February 2017 0

….Proposes N1.77 final dividend Zenith Bank’s audited financial statement for the period ended December 31st 2016 released by the Nigerian Stock Exchange (NSE) Monday has elicited mixed market reactions, even as investors strive to buy into N1.77 dividend proposed. The results which investments analysts have classified as mixed with positive and negative aspects. On the

Business Capital Market

Financial sector expected dividends boost market indices

Ihesiulo Grace 28 February 2017 0

The expected dividend payout by companies in the financial sector, on Monday lifted market performances as 2016 earnings by Zenith bank, and other financial institutions raised demands for their equities. The share price of Zenith Bank rallied on Monday, following the release of the group’s impressive full year financial performance. The stock grew by 0.48 […]

Business Capital Market

Consumer good sustains highest negative returns as February ends

Ihesiulo Grace 27 February 2017 0

The headwinds bedeviling the Nigerian economy and the industrial sector demonstrated its spiral effects as the consumer goods sector of the Nigerian stock exchange (NSE) sustains highest negatives returns. The sector on the last full trading week in February, recorded -16.89 per cent loss on investment so far in 2017, the sector opened the year […]

Business Capital Market

SEC’s hammer falls on Yuan Dong (YDEC) Ponzi scheme

Ihesiulo Grace 27 February 2017 0

As the issue of the MMM Ponzi scheme continues to rage in the Nigerian economy, the Securities and Exchange Commission, has slammed another similar investment scheme with indefinite closure of its business premises. The action was against Yuan Dong (YDEC), in furtherance of the apex capital market regulator’s determination to protect investors and ensure that […]

Business Capital Market

NSE insurance index components pride 2% priced over N1.00

Ihesiulo Grace 27 February 2017 0

…Offers openings for cheap acquisition The Nigerian insurance sector which opened the 2017 financial year on a depressive note of -11.24 per cent that closed 2016 financial year, has sustained low equity prices as trading enters the last month of the third quarter Wednesday. The sector which opened last week at 122.61, closed on Friday […]

Business Capital Market

Chellarams migrates to ASeM on free float deficiency default

Ihesiulo Grace 27 February 2017 0

Chellerams Nigeria Plc based on its free float deficiency, has been authorized by the NSE to migrate to Alternative Securities Exchange Market category (ASeM) board, for Small and Medium Enterprises (SME’s) Chellarams Plc had applied to migrate from the Main Board of the NSE to the ASeM Board following the company’s 14.87 percent free float […]

Business Capital Market

NB, Guinness, NPF Mfb gains lift equities market

Ihesiulo Grace 27 February 2017 0

…As market key indices record growth The brewing sector, Nigerian Breweries and Guinness Nigeria, as well as the Micro finance sector, represented by the Nigerian Police force (NPF) MFB led on the price gainers table for the week ended February 24th 2017. The equities market also recorded its first weekly growth for the month of […]

Business Capital Market

Transcorp Hotels grows pat by 17.10%

Ihesiulo Grace 22 February 2017 0

…As PBT drops by 2.06 % Transcorp Hotels Nigeria Plc has reassured its shareholders with its recently released 2016 financial statement which shows growth in profit after tax by 17.10 per cent and rise in revenue by 9.53 per cent. The result released by the Nigerian Stock Exchange (NSE) on Tuesday showed that though profit […]

Business Capital Market

PwC report: Activity in African capital markets shows significant decline in 2016

Ihesiulo Grace 16 February 2017 0

…amidst economic uncertainty and global political upheaval 2016 marked a challenging year for African equity markets in the wake of lower economic growth and political upheaval around the globe, largely as a result of the US elections cycle and the Brexit vote. African equity capital markets (ECM) broke a streak of three successive years of […]

Business Capital Market

Investors trade N1.5 billion worth of shares.

Ihesiulo Grace 10 February 2017 0

Equities trading on the Nigerian Stock Exchange amounted to N1.5 billion yesterday, as investors moved 143.2 million shares in 2,551 deals. The All-Share Index (ASI) and market capitalization closed at 25,322.30 and N8.774 trillion, following a decline of 0.54 and 0.13 percent respectively. Mansard led the day’s nine appreciating stocks by 4.61 percent to close at […]

Business Capital Market

SEC tasks capital market stakeholders on new products

Ihesiulo Grace 10 February 2017 0

The Director-General of the Securities and Exchange Commission  (SEC), Mr. Mounir  Gwarzo, yesterday urged the capital market stakeholders to introduce new products that would aid the implementation of the 2017 budget. Gwarzo made the remark in an address at the 2017 budget seminar organized by the commission in Lagos. He said that capital market stakeholders needed to

Business Capital Market

FMDQ admits Forte Oil N9bn as first 2017 corporate bond

Ihesiulo Grace 10 February 2017 0

Forte Oil Plc has once again made history in addition to its reputation as the first early filer of yearly audited results to the Nigerian Stock Exchange (NSE) by emerging first corporate bond to list on FMDQ in 2017. Coming shortly after the recent quotation of the Dufil Prima Foods commercial paper notes is the […]

Business Capital Market

Jaiz Bank lists on NSE

Ihesiulo Grace 10 February 2017 0

Jaiz Bank Plc yesterday listed 29.6 billion shares by introduction on the Nigerian Stock Exchange (NSE) at N1.50 per share. The bank, the first sharia-compliant commercial bank to list on the NSE by the listing contributed N38.8 billion to the NSE market capitalization. In January 2012, the Central Bank of Nigeria (CBN) granted Jaiz Bank an approval […]

Business Capital Market

Fraud: Capital market regulators re-echo need for whistleblowing

Ihesiulo Grace 8 February 2017 0

 … silence of investors on suspected crime counter-productive Capital market regulators have been urged to deploy preventive market regulatory methods to enthrone confidence in the Nigerian market rather than its current curative method which leaves investors more bruised. To usher in a more vibrant capital market, the Securities and Exchange Commission (SEC) and the

Business Capital Market

International Breweries Q3 2017 43% PAT growth beats analysts’ expectations

Ihesiulo Grace 8 February 2017 0

Against operating challenges and industry headwinds, International Breweries Plc has proved skeptics wrong with its third quarter result for the period ended December 31, 2016, even as exposure to foreign exchange continues. The company’s result beats forecast estimates of investments research firms as it posted boosts in sales as well as growth in gross margin […]