NSE admits new securities on official list

By Udeme Ekwere   Monday, 27 Sep 2010



The Nigerian Stock Exchange has admitted three new securities on its Daily Official List.


According to the weekly report of the Nigerian Stock Exchange for the week ended September 24, 2010, the securities are the N50bn Bayelsa State Government Development Bond 2009/2016; the N57.7bn Lagos State Government Fixed Rate Bond (Series 2) 2010/2017 under the N275bn debt issuance programme.


UACN Property Development Company Plc N15bn 10 per cent Fixed Rate Unsecured Non-Convertible Bond 2010/2015 (series 1) under the N30bn debt issuance programme, was also listed.


The report also noted that two equity prices were adjusted for dividend as recommended by the companies board of directors.


C&I Leasing Plc was adjusted for a dividend of 2k per share, while Dangote Flour Mills Plc was adjusted for dividend of 50k per share.


The NSE All-Share Index depreciated by 304.68 points or 1.33 per cent to close the week at 22,689.09, while the market capitalisation of the 199 First-Tier equities fell to N5.56tn.


Also, the NSE-30 Index depreciated by 9.08 points or 0.94 per cent to close at 953.69.


The report added that a total of 37,924,787, were removed from the issued shares of Custodian and Allied Insurance Plc last week, having secured the order of the Federal High Court Lagos. It added that the insurance company executed a share buy back.


Royal Exchange Plc also notified the NSE of the resolve of its board to withdraw its consolidated accounts.


This, the company noted, was because of some issues raised by the National Insurance Commission of the account of the company‘s subsidiary.


It noted that from the foregoing, the board had postponed the company‘s scheduled Annual General Meeting to a later date to be communicated to the NSE.


At the over-the-counter bond market, a turnover of 209.3million units worth N195bn were exchanged by investors last week, in 1,875 transactions, in contrast to 193.3 million units, valued at N187bn recorded the preceding week, in 1,801 deals.


The most active bond measured by turnover was the 10.00 per cent FGN July 2030 with a traded volume of 90.7 million units, valued at N79.126bn in 789 deals.


This was followed by the 4.00 per cent FGN April 2015 with a traded volume of 35.65 million units worth N29bn in 277 deals.


Source: The Punch


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