October 23, 2017/Cordros Research CADBURY NIGERIA PLC (CADBURY) – SELL ▪ The shares of CADBURY closed flat last week at N10.50. CADBURY trades at a significant forward PE above its 5-year historical average of 24.9x. ▪ Q2-17 revenue was below of our estimate by 10% while loss after tax was […]
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Stocks Opens Week Negative, NSEASI Sheds 0.48% on Profit-Taking Across Sectors Save Oil & Gas
October 23, 2017/Cordros Research EQUITIES The equities market commenced on a negative note, with the ASI shedding 0.48% to 36,411.73 points, following profit taking across most sectors save for Oil & Gas. Accordingly, the Month-to-Date and Year-to-Date returns moderated to 2.74% and 35.49% respectively. The Industrial goods index (-4.00%) led […]
Update: Union Bank Rights Issue closes on 30 October 2017
October 23, 2017/Cordros Research UNION BANK NIG.PLC. (UBN) Rights Issue, opened on 20 Sept, 2017, will close on Monday, 30 October 2017. Use of Proceeds: 80% of proceeds to be used as working capital 12% of proceeds to be invested in technology, innovation and digitalization 8% of proceeds to be […]
