Trading ends negatively with N17bn loss on Friday
Analysis by Nigerian NewsDirect of last week’s Friday trading has shown that the Nigerian stock market lost N17 billion at the close of trading on Friday.
This is as the All-Share Index (ASI) declined to 98,125.73 from 98,233.76 at the close of the previous trading day.
The loss was largely attributed to a value dip in Transcorp Hotel, NEM Insurance, and UPDC stocks.
The three companies shed 9.72 percent, 9.63 percent, and 9.57 percent each to close at N92.00, N8.45, and N4.25 from the initial N101.90, N9.35 and N4.70 per share respectively.
On the positive, PZ, Julius Berger, and Sterling Bank led other gainers with 9.92 percent, 9.53 percent, and 6.67 percent growth in share price to close at N21.60, N79.30, and N4.48 from the previous N19.65, N72.40, and N4.20 per share.
In terms of value, Airtel Africa recorded the highest value for the day trading stocks worth N4.25 billion in 39 deals followed by SEPLAT which traded equities worth N2.3 billion in 113 deals.
Meanwhile, the Nigerian Exchange Limited (NGX) has admitted additional 402,082,657 ordinary shares of 50 Kobo each per share of Cadbury Nigeria Plc on its platform.
This was contained in the NGX’s weekly report seen by Nigerian NewsDirect.
According to the report, the additional shares listed on NGX arose from Cadbury’s conversion of N7,036,446,501.26 intercompany loan to equity.
The statement read, “Trading Licence Holders are hereby notified that additional 402,082,657 ordinary shares of 50 Kobo each per share of Cadbury Nigeria Plc (Cadbury or the Company) were on Thursday, 16 May 2024, listed on the Daily Official List of Nigerian Exchange Limited (NGX).”
The additional shares listed on NGX arose from Cadbury’s Conversion of N7,036,446,501.26 Intercompany Loan to Equity.
With this listing of the additional 402,082,657 ordinary shares, the total issued and fully paid-up shares of Cadbury has now increased from 1,878,201,962 to 2,280,284,619 ordinary shares of 50 Kobo each.”
