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Dr. Gilbert Obiajulu Uzodike Buys Cutix Shares Worth N2.15 Million

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Gilbert Obiajulu Uzodike

Dr. Gilbert Obiajulu Uzodike Buys Cutix Shares Worth N2.15 Million

Dr. Gilbert Obiajulu Uzodike, a substantial shareholder in Cutix Plc, purchased 1 million shares of the company on Monday, according to the latest filing with the Nigerian Stock Exchange (NSE).

This was disclosed in the statement signed by Nwokporo Chinwendu (ACIS), Company Secretary.

Dr. Uzodike purchased the 1 million shares at N2.15 per share on January 18, 2021 at the Nigerian Stock Exchange (NSE) in Lagos, Nigeria. Meaning, Dr. Uzodike invested N2.15 million into Cutix Plc. See the details below.

 

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Nigerian Exchange Limited

Geregu Power Finally Lists on Nigerian Stock Market, Adds N250 Billion to NGX Liquidity

Billionaire Femi Otedola-owned energy company, Geregu Power has finally been listed on the Nigerian Exchange Limited (NGX) today.

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Femi Otedola

Billionaire Femi Otedola-owned energy company, Geregu Power has finally been listed on the Nigerian Exchange Limited (NGX) today.

The company listed 2.5bn shares at N100 a unit on the Main Board of the Nigerian Exchange (NGX) on Wednesday, October 5, 2022.  Geregu is the first GenCo to be listed on the NGX Main Board, a segment for well-established companies with demonstrable records of accomplishments.

Investors King reported on Monday that the company planned to list on the stock exchange today.

Geregu entered the Exchange with a market capitalisation of N250 billion and with an international securities identification number (ISIN) – NGGEREGU0000.  

Geregu Power, a leading power generation company (GenCo) in Nigeria, was listed under the utilities sector and Electric Power Generation sub-sector of NGX, with the trading symbol, GEREGU.

The listing has now added N250 billion to the liquidity of the Nigerian Exchange Limited and provides more opportunities for wealth creation.

Commenting on the listing, the Chairman, Board of Directors, Mr. Femi Otedola, CON, said “the listing of the company was the actualization of a vision to bring world-class standards in governance sustainability, and business processes to the Company and the Nigerian electricity sector.” He added that “listing on the Main Board of the Exchange will ensure that the long-term growth of the company is assured and its benefits will be passed on to our esteemed shareholders”. Nigerian Exchange Limited continues to evolve in order to remain an attractive destination for issuers, meet the needs of our valued stakeholders and achieve the highest level of competitiveness.

On his part, Chairman, NGX, Mr. Abubakar Mahmood SAN, OON, said, “We are particularly pleased that Geregu Power has joined the prestigious group of companies listed on our Main Board, which will differentiate it as a professionally run power company with high standards, having met NGX’s listing criteria.

“A Main Board listing is a sign of commitment to strong corporate governance, excellence, professionalism, efficiency in service delivery, and providing increased returns to shareholders. It is our expectation that the Geregu Power listing will encourage other power generation and distribution companies to list their shares on the Exchange, thereby opening the sector up to cheaper, long-term capital that will boost infrastructural development and value creation.”

Mr. Temi Popoola, the Chief Executive Officer, NGX, highlighted the significance of the listing to the entire nation.

He said, “Today’s listing is a promising development in the country’s power sector and we are delighted to welcome Geregu Power Plc to the Exchange. Having Geregu listed in our market is proof of NGX’s commitment to building a robust and inclusive market and creating avenues for sustainable investment.

“This listing will enhance liquidity for Geregu, increase its visibility among global investors, elevate its value and boost transparency, as our marketplace is a sterling platform for raising capital and enabling sustainable growth for national development. As a listing platform of choice, we are committed to working with companies at various stages of growth to explore the different opportunities in the capital market to meet their business objectives.”

 

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Bonds

Debt Management Office Offers Two FG Savings Bonds for October

The Debt Management Office (DMO) has declared opened two Federal Government Savings Bond Offers for October 2022.

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Bonds- Investors King

The Debt Management Office (DMO) has declared opened two Federal Government Savings Bond Offers for October 2022.

In a statement released by the DMO on Tuesday, Federal Government is offering a 2-Year FGN Savings Bond due October 12, 2024 at 11.382% per annum interest rate and 3-Year FGN Savings Bond due October 12, 2025 at 12.382% per annum interest rate.

The opening date for subscription was set as today, October 4, 2022 and the closing date was three days after, October 7, 2022.

According to DMO, the settlement would be done on October 12, 2022 while coupon payment dates are January 12, April 12, July 12, and October 12.

Unit of Sale was set at N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.

Meanwhile, the Director-General of DMO, Patience Oniha DMO, during a presentation at an executive course on budgeting and fiscal responsibility organised by the Fiscal Responsibility Commission in Abuja, has said the federal government cut down on borrowings by increasing revenue generation and improve on expenditure.

In her paper titled “Debt Sustainability Challenges and Strategic Revenue Mobilisation Initiative”, Oniha explained that because the federal government had run deficit budgets for many decades, borrowings from external and domestic sources are unavoidable.

She said: “A budget may be surplus, balanced or deficit. Nigeria has run deficit budgets on a consecutive basis for decades.

“The financing of the deficits through borrowing from local and external sources is the principal reason for the growth in debt stock and debt servicing.

“One way to reduce budget deficits is to grow revenues; the other way is to prioritise expenditure and cut waste and leakages.”

 

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Nigerian Exchange Limited

eTranzact Lists 2,565,433,333 Ordinary Shares

eTranzact, multi-application and multi-channel electronic transaction switching and payment processing platform, has listed additional 2,565,433,333 ordinary shares of 50 kobo each of eTranzact International Plc.

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etranzact

eTranzact, multi-application and multi-channel electronic transaction switching and payment processing platform, has listed additional 2,565,433,333 ordinary shares of 50 kobo each of eTranzact International Plc.

The company made the announcement on Friday following the listing on Wednesday, 28 September 2022.

The statement reads, “Trading Licence Holders are hereby notified that additional 2,565,433,333 ordinary shares of 50 kobo each of eTranzact International Plc (eTranzact or the Company) were on Wednesday, 28 September 2022, listed on the Daily Official List of the Nigerian Exchange Limited (NGX).

“The additional shares listed on NGX arose from eTranzact’s conversion of N5,772,225,000 Zero Coupon Unsecured Subordinated Irredeemable Convertible Debenture Stock to Equity at N2.25 per share.

“With this listing of the additional 2,565,433,333 ordinary shares, the total issued and fully paid up shares of eTranzact has now increased from 6,634,566,483 to 9,199,999,816 ordinary shares of 50 kobo each.”

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