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Nigerian Stock Exchange

Insider Dealing: Zenith Bank’s Temitope Fasoranti Invested N23.65 Million in the Bank

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Zenith Bank

Temitope Fasoranti, Executive Director of Zenith Bank, Purchased Shares Valued at N23.65 Million in the Bank

The executive director of Zenith Bank, Dr. Temitope Fasoranti, has reaffirmed his confidence in Nigeria’s most profitable bank in the last two years by increasing his stake in the leading bank.

The Executive Director purchased additional shares of 1 million at N23.65 per share on December 16, 2020 from the Nigerian Stock Exchange trading floor in Lagos.

The management of the bank disclosed this in a statement signed by Michael Osilama Otu, Company Secretary/General Counsel, Zenith Bank.

Local investors have been dumping money on shares of Zenith Bank in the last few months amid a strong bullish run. This shows long term confidence in the future of one of the leading African banks. See the details of the transaction below.

 

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 experience in the global financial markets.

Nigerian Stock Exchange

Transcorp Hotel Lists Additional Shares of 2,642,124,511

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Transcorp hotel

Transcorp Hotel Lists Additional Shares of 2,642,124,511

Transcorp Hotel Plc listed additional 2,642,124,511 ordinary shares on the Nigerian Stock Exchange (NSE) last week.

The additional shares listed on The Exchange arose from the Company’s Rights Issue of 2,659,574,468 ordinary shares of 50 kobo each at N3.76 Kobo per share on the basis of seven (7) new ordinary shares for every twenty (20) ordinary shares held as at Monday, 13 July 2020.

The Rights Issue was 99.34% subscribed. With this listing of the additional 2,642,124,511 ordinary shares, the total issued and fully paid up shares of Transcorp Hotel Plc has now increased from 7,600,403,900 to 10,242,528,411 ordinary shares of 50 kobo each.

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Nigerian Stock Exchange

Flour Mills Issues N30 Billion Bond Under N70 Billion Bond Issuance Program

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flour mills posts 184% increase in PAT

Flour Mills Issues N30 Billion Bond Under N70 Billion Bond Issuance Program

Flour Mills Nigeria Plc on Thursday listed N29.8 billion Tranche A and Tranche B Bond, the remaining series of its N70 billion Bond Issuance Programme.

A break down of the listing showed a total volume of 4,890,000, 5 Years 5.5 percent Series 4 (Tranche A) Fixed Rate Senior Unsecured Bond Due 2025 under the N70,000,000,000 Bond Issuance Program; and the 25,000,000, 7 Years 6.25 percent Series 4 (Tranche B) Fixed Rate Senior Unsecured Bond Due 2027 Under the N70,000,000,000 Bond Issuance Program were listed by memorandum on Thursday 21st January 2021.

Speaking on the listing, Mr Olumide Bolumole, the Divisional Head, Listings Business, NSE, said “It has been a positive start to the Nigerian capital market in the new year and we are pleased to commemorate the listing of Flour Mills’ N29.8bn Tranche A and Tranche B Bond Issue, the final series under its N70bn Bond Issuance Programme.

“As is our custom to celebrate significant milestones and accomplishments of our issuers, we also applaud and recognise the contributions of Mr Paul Gbededo who recently retired after 38 years of meritorious service and congratulate Mr (Boye) Olusanya on his appointment as the Group MD/Chief Executive Officer at the NSE, we remain committed to supporting the strategic objectives of our issuers, providing a platform for raising capital even in the toughest of times.”

Olusanya added that “We thank the NSE for hosting us at this virtual Closing Gong ceremony today and we are excited about the role The Exchange is playing in deepening secondary market activities in the Nigerian market in line with international best practice.

“The issuance of the N29.8bn tranche A and B bond coincides happily with the 60th anniversary of Flour Mills Plc and fully utilises the N70bn programme registered in 2018. We will continue to explore opportunities to raise funds via the capital market as this has allowed us to diversify our funding sources whilst playing a critical role in the development of our market.”

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Nigerian Stock Exchange

Nigerian Stock Exchange Pared Gains Last Week

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Nigerian Stock Exchange

Nigerian Stock Exchange Pared Gains Last Week

The Nigerian Stock Exchange (NSE) pared gained last week to make it the second week the Exchange will close in the red this year.

The NSE All-Share Index depreciated by 0.42 percent or 174.15 index points to close the week at 41,0001.99 index points, down from 41,176.14 index points posted in the previous week.

Market capitalisation dipped by 0.38 percent or N81 billion from N21.530 trillion recorded in the previous to N21.449 trillion last week.

During the week, investors traded total shares of 4.288 billion worth N25.989 billion in 32,849 deals against a total of 3.447 billion shares valued at N32.725 billion that exchanged hands last week in 30,327 deals.

In terms of volume traded, the Financial Services Industry led the activity chart with 2.607 billion shares valued at N12.454 billion traded in 15,128 deals; thus contributing 60.81 percent and 47.92 percent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 813.813 million shares worth N1.561 billion in 2,417 deals. The third place was Oil and Gas Industry, with a turnover of 212.126 million shares worth N821.978 million in 2,726
deals.

The most traded equities for the week were Transnational Corporation of Nigeria, Living Trust Mortgage Bank Plc and Japaul Gold and Ventures Plc. Together, the three accounted for 1.582 billion shares worth N1.564 billion in 2,726 deals and contributed 36.9 percent and 6.02 percent to the total equity turnover volume and value, respectively.

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