March 27, 2018/Cordros Report Update: We update on DANGCEM, following the surprise effective tax rates (ETRs) of c.30% and 84% reported in 2017FY and Q4-17. On net, we increase our estimate for group ETR for 2018-2019E to 14% (previously 11%) and for 2020E and beyond to 33% (previously 12%). Net […]
Investors Bite
FMDQ Admits the N3.15 Billion Lapo MFB SPV Plc Bond
March 27, 2018/FMDQ OTC Corporate institutions have continued to successfully tap the Nigerian debt capital markets (DCM) to access stable long-term finance to fund key activities that ultimately translate to the development of the economy at large. Coming shortly on the heels of the recent listing of the Viathan Funding […]
Bears Sustain Dominance on Nigeria Equities Market, ASI Plunge 0.51%
March 27, 2018/Cordros Update EQUITIES The bears continued to dominate the equities market, against expectations of a positive close (following broadly positive corporate releases), as the ASI plunged 0.51% to 41,243.24 points. Accordingly, the Month-to-Date and Year-to-Date returns moderated to -4.82% and 7.84%, respectively. Save for the Industrial Goods (+0.86%) […]
