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Guaranty Trust Bank Sheds N10.235 Billion on Tuesday

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GTBank

Guaranty Trust Bank Sheds N10.235 Billion on Tuesday

One of Nigeria’s leading financial institutions, Guaranty Trust Bank, led top losers on Tuesday despite the Nigerian Stock Exchange (NSE) gaining 0.36 percent to close above N21 trillion market value.

Guaranty Trust Bank’s market value declined by 1.07 percent or N10.235 billion as investors traded 9.763 million shares at an average price of N32.50 per share.

The lender’s share declined by 35 kobo from N32.85 to settle at N32.5 per share.

MTN Nigeria followed with a 0.12 percent decline to close at N165 per share, down from N165.2 per share it opened the day.

Investors traded 1.166 billion shares valued at N7.969 billion in 5,591 transactions during the trading hours of Tuesday.

The market capitalisation of listed equities grew by 0.36 percent to N21.069 trillion while the NSE All-Share Index expanded by the same 0.36 percent to 40,295.95 index points.

Dangote Cement led the top gainers’ chart with N5 or 2.22 percent to settle at N230 per share. Ardova followed with N1.75 percent or 9.75 per share to call it a day at N19.7 per share. See the details below.

Top Trades

Symbols Volume Value
UPDCREIT 755,007,570 N4,152,541,635.00
MANSARD 49,508,032 N59,128,938.35
TRANSCORP 44,268,834 N41,763,015.29
JAPAULGOLD 29,348,202 N34,043,914.32
STERLNBANK 26,206,465 N51,849,122.42

Top Gainers 

Symbols Last Close Current Change %Change
DANGCEM N225 N230 5 2.22%
ARDOVA N17.95 N19.7 1.75 9.75%
NASCON N14.5 N15.95 1.45 10.00%
DANGSUGAR N19.35 N19.65 0.3 1.55%
MAYBAKER N3.59 N3.85 0.26 7.24%

Top Losers 

Symbols Last Close Current Change %Change
GUARANTY N32.85 N32.5 -0.35 -1.07%
MTNN N165.2 N165 -0.2 -0.12%
OANDO N3.7 N3.5 -0.2 -5.41%
JBERGER N17.9 N17.7 -0.2 -1.12%
UBA N8.9 N8.8 -0.1 -1.12%

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.

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Nigerian Stock Exchange

Presco Plc to Hold Emergency Meeting to Recommend Acquisition of Private Company to Shareholders

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Presco Plc - Investors King

Presco Plc, an agro-industrial company, has notified shareholders of the company, the Nigerian Exchange Group and the investing public that the Board of Directors of Presco Plc will hold an emergency meeting on Thursday 24th June, 2021 to recommend for the shareholders to consider the acquisition of an existing private company through shares.

The existing private company, according to a statement signed by Patrick Uwadua Esq., Company Secretary, Presco Plc, is in the same line of business with Presco Plc.

Presco said once considered, a resolution will be passed at the company’s next General Meeting to authorise the acquisition of all the shares of the existing private company.

Meanwhile, the company commenced its closed period on today, Wednesday 16 June 2021 until 24 hours after the decisions taken at the Board Meeting are released to the public.

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Nigerian Stock Exchange

Cornerstone Insurance, Morison, Others Lead Gainers as Stock Market Gains

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stock bull - Investors King

Nigerian Exchange Group rebounded from 1.66 percent decline recorded on Tuesday to close with 0.15 percent gain on Wednesday as more stocks closed in the green.

Investors traded 302,722,917 shares valued at N2.809 billion during the trading hours of Wednesday, against the 297.35 million shares worth N3.65 billion that were exchanged in 4,402 deals on Tuesday.

Market value of listed stocks appreciated from N20.07 trillion on Tuesday to settle at N20.099 trillion on Wednesday.

Nigerian Exchange Group All-Share Index gained 0.15 percent from 38,507.29 index points on Tuesday to 38564.70 index points on Wednesday.

Cornerstone Insurance led gainers with 10 percent, while Morison followed with 9.68 percent as shown below. Sterling bank emerged the most traded stocks with 37473362.00 shares valued at N57825053.65.

Top Gainers 

Symbols Last Close Current Change %Change
CORNERST N 0.50 N 0.55 0.05 10.00 %
MORISON N 1.24 N 1.36 0.12 9.68 %
LEARNAFRCA N 0.92 N 0.98 0.06 6.52 %
AFRIPRUD N 6.05 N 6.40 0.35 5.79 %
COURTVILLE N 0.20 N 0.21 0.01 5.00 %

Top Losers 

Symbols Last Close Current Change %Change
ABBEYBDS N 1.05 N 0.95 -0.10 -9.52 %
CHIPLC N 0.74 N 0.67 -0.07 -9.46 %
CWG N 1.24 N 1.15 -0.09 -7.26 %
WAPIC N 0.57 N 0.53 -0.04 -7.02 %
REGALINS N 0.48 N 0.45 -0.03 -6.25 %

Top Trades

Symbols Volume Value
STERLNBANK 37473362.00 57825053.65
ETI 27396295.00 142467020.85
WEMABANK 27146019.00 15001766.29
GUARANTY 26491561.00 745342100.20
JAPAULGOLD 22136983.00 11040985.74

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Bonds

Dangote Cement Completes Issuance of N50 Billion Series 1 Fixed Rate Senior Unsecured Bonds

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Dangote Cement - Investors King

Dangote Cement, Africa’s largest cement producer, announced it has successfully issued N50 billion Series 1 Fixed Rate Senior Unsecured Bonds under the company’s new NGN300 billion Multi-Instrument Issuance Program.

The leading manufacturer disclosed in a statement signed by Edward Imoedemhe, Deputy Company Secretary, Dangote Cement Plc.

According to the statement, the bonds were issued on May 26 2021 at coupon rates of 11.25%, 12.50% and 13.50% for the 3, 5 and 7-year tranches respectively.

The statement read in part, “Despite market headwinds, the bond issuance was well received and recorded participation from a wide range of investors including domestic pension funds, asset managers, insurance companies and high net-worth investors.

“The proceeds of the bond issuance will be deployed for the company’s expansion projects, short-term debt refinancing and working capital requirements. Aside from this first issuance of a traditional bond under the new Multi-Instruments Programme, Dangote Cement has registered a programme enabling it to consider different types of fixed income instruments to cater for different type of investors.”

“The ability to issue Green Bonds and Sukuk will enable the company leverage the depth and breadth of the Nigerian market.”

Commenting on the bond issuance, Michel Puchercos, Chief Executive Officer of Dangote Cement Plc. stated: “This bond issuance allows us move a step further in achieving our expansion objectives and will be deployed to projects instrumental in supporting our export strategy while improving our cost competitiveness.

“We thank the investor community for their continued support in the management of Dangote Cement and their successful participation in the bond issuance.”

Absa Capital Markets Nigeria acted as Lead Issuing House for the Series 1 Bonds, and Stanbic IBTC Capital, Standard Chartered Capital & Advisory Nigeria Limited, United Capital Plc, FBN Quest Merchant Bank, FCMB Capital Markets, Coronation Merchant Bank, Ecobank Development Corporation Nigeria, Futureview Financial Services, Meristem Capital Limited, Rand Merchant Bank, Quantum Zenith Capital and Vetiva Capital Management acted as Joint Issuing Houses. The Bonds will be listed on the Nigerian Exchange Limited and FMDQ Securities Exchange.

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