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10 Stockbroking Firms Facilitate Trading of N699bn Shares in Four Months

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Forex Market
  • 10 Stockbroking Firms Facilitate Trading of N699bn Shares in Four Months

Ten stockbroking firms facilitated the exchanges of 51.621 billion shares worth N699.318 billion on the Nigerian bourse from January to April 2018, according to data obtained from the Nigerian Stock Exchange (NSE). In value terms, the 10 stockbroking firms accounted for 64.05 per cent, while in volume terms, they accounted for 49.36 per cent of the activities that took place in the market during the review period.

An analysis of the performance chart in volume terms showed that United Capital Plc led with 11.236 billion shares or 10.7 per cent, followed by CSL Stockbrokers Limited with 7.466 billion shares or 7.1 per cent. Stanbic IBTC Stockbrokers Limited accounted for 7.258 billion shares or 6.9 per cent, just as Cardinalstone Securities Limited traded 4.669 billion shares or 4.4 per cent. Apel Asset Limited recorded 4.209 billion shares or 4.0 per cent, while Rencap Securities Nigeria Limited accounted for 3.778 billion, which is about 3.6 per cent of the stocks traded in the period.

The remaining stockbroking firms among the top 10 are: Cordros Securities Limited ( 3.592 billion shares or 3.4 per cent); Reward Investment and Services Limited(3.492 billion shares or 2.8 per cent); Meristem Stockbrokers Limited (2.961 billion shares or 2.8 per cent); and Morgan Capital Securities Limited (2.956 billion shares or 2.8 per cent).

In terms of value, Stanbic IBTC Stockbrokers Limited led with N177.76 billion or 16.2 per cent, trailed by CSL Stockbrokers Limited with N138.155 billion or 12.6 per cent. Rencap Securities Limited recorded N100.734 billion or 9.2 per cent, while EFCP Limited accounted for N80.632 billion or 7.3 per cent. FBN Quest Securities Limited traded N48.413 billion or 4.4 per cent, just as Cordros Securities Limited accounted for N45.614 billion or 4.1 per cent.

Others included: United Capital Securities Limited (N33.024 billion or 3.0 per cent); Chapel Hill Denham Securities Limited (N27.936 billion or 2.5 per cent); Cardinalstone Securities Limited (N27.136 billion or 2.4 per cent) and Apel Asset Limited (N19.9 billion or 1.8 per cent).

Stanbic IBTC Stockbrokers Limited has remained consistent on the number position on the brokers’ performance chart. In recognition this, Stanbic IBTC Stockrokers has won NSE Best Dealing Member firm award for the six consecutive years.

The Chief Executive, Stanbic IBTC Stockbrokers Limited, Mrs. Titi Ogungbesan, had explained that the most important characteristics that had endeared the firm to clients were integrity, professionalism and painstaking execution capabilities.

“For us, ensuring optimal value to clients is the first consideration in our service delivery. We pride ourselves in the high quality of our Equities research backed up by a dynamic sales team. We also leverage on the expertise and experience of Stanbic IBTC Group and the relationship with our parent company, the Standard Bank Group,” Ogungbesan said.

According to her, the firm does not only seek to execute transactions, but it also builds quality relationships with clients and other stakeholders.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

Finance

Debt Market: Dangote Cement Raises N250 Billion in H1, 2020

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Prime Real Estate Development At Eko Atlantic City

Dangote Cement Raises N250 Billion From Debt Market in H1 2020

Dangote Cement raised a total sum of N250 billion from the nation’s debt market in the first half of the year, according to the FMDQ Securities Exchange Limited.

In the statement published on the FMDQ website, the N250 billion debt includes the N100 billion Series 1 Bond raised under Dangote Cement’s N300 billion Bond Programme and the N150 billion Commercial Paper (Series 13-16 Domestic CP Issuance Programme) offered earlier in the year and now listed and quoted on FMDQ Securities.

Mr Michel Puchercos, the Chief Executive Officer, Dangote Cement, was quoted as saying, “This landmark transaction is the largest-ever bond issuance by a corporate issuer in Nigeria.

“It allows us to further broaden our sources of funding by accessing long-term debt at competitive costs from the capital market and builds further on the success of our domestic commercial paper programme.

“The success of these transactions, in the current challenging environment, illustrates investors’ continuous confidence in Dangote Cement’s strategy, strong cash generation and solid credit profile.”

Mr Kobby Bentsi-Enchill, the Executive Director and Head of Debt Capital Markets, Stanbic IBTC Capital Limited, said, “Stanbic IBTC Capital Limited has a long history of partnering with Dangote Cement Plc, and are delighted to have advised on this landmark corporate bond issuance, which reflects the depth and diversity of the Nigerian debt capital markets.”

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Conoil Profit After Tax Declines by 20 Percent in Q1, 2020

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Conoil

Conoil Profit Before Tax Depreciated by 20 Percent in Q1 2020

Conoil Plc, Nigeria’s indigenous oil marketing company, on Tuesday declared a 20 percent declined in both profit before tax and profit after tax for the quarter ended March 31, 2020.

In the unaudited financial results released on the Nigerian Stock Exchange (NSE), Conoil grew revenue by 7 percent from the N35,637 billion filed in the same quarter of 2019 to N38.143 in the first quarter of 2020.

Also, the company’s retained earnings expanded by 8 percent from N14.395 billion in the corresponding quarter of 2019 to N15.556 billion in Q1 2020.

Accordingly, Shareholders’ funds appreciated by 6 percent from N18.566 billion filed in the first quarter of 2019 to N19.728 billion in the same quarter of 2020.

However, profit before tax declined by 20 percent from N468,202 million in Q1 2020 to N382,915 million during the period under review.

The tax paid by the company during the period also declined by 20 percent from N153,025 million in Q1 2019 from N122,533 million in Q1 2020.

The company’s profit before tax declined by 20 percent from N325.178 million in achieved in the first quarter of the corresponding year to N260.382 million in Q1, 2020.

Similarly, earnings per share also declined by 20 percent from 47 kobo in Q1 2019 to 38 kobo in Q1 2020.

Total assets declined from N63.584 billion in Q1 of 2019 to N58.760 billion in Q1, 2020.

Conoil owned equity expanded from N19.467 billion achieved in the first quarter of 2019 to N19.728 billion in the first quarter of 2020.

Total Liabilities declined from N44.117 billion in Q1 2019 to N39.032 billion during the period under review.

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FMDQ Group Admits Dangote N100bn Bond, MTN N100bn Commercial Paper

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Bola Onalede

FMDQ Group Admits Dangote N100bn Bond, MTN N100bn Commercial Paper

The FMDQ Group has said the admission of both the N100 billion Dangote Cement bond and MTN Nigeria N100 billion commercial paper shows the potential of the Nigerian capital market to drive and stimulate economic growth.

The two most capitalised companies successfully raised N100 billion each from the capital market despite the COVID-19 pandemic and economic downturn.

Bode Onadele, the Chief Executive Officer, FMDQ Group, said: “The market has been yearning for corporate benchmarks for pricing and valuation of securities in the debt capital market, and coming at a time when the resilience of the Nigerian financial market is being tested by the impact of the COVID-19 pandemic is even more commendable.

The success of these issuances by the premier and largest business conglomerate in Africa, Dangote Industries, through its subsidiary, Dangote Cement Plc, and the debut made into the Nigerian debt capital market by leading telecommunications giant, MTN Nigeria Communications Plc, lay credence to the untapped and great potential of the Nigerian capital market to support sustainable development in Nigeria, and the confidence of investors, as well as the commitment of FMDQ Group to empower the markets to deliver prosperity to Nigeria and Nigerians.”

Onadele said the inclusion of the two securities on FMDQ validates the innovative and credible capital market solutions championed and efficiently delivered by FMDQ, over the last few years.

“Furthermore, in line with its mandate to facilitate global competitiveness of the Nigerian financial market, FMDQ, through these admissions, has provided the market and its diverse stakeholders – local and international – the much-needed corporate benchmark for the bond and commercial paper markets,” he said.

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