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Transcorp Hotels Commemorates N10bn Rights Issue Listing with NSE Digital Closing Gong Ceremony

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Transcorp Hotels Commemorates N10bn Rights Issue Listing with NSE Digital Closing Gong Ceremony

Transcorp Hotels Plc commemorated the listing of its Rights Issue of 2,642,124,511 additional Ordinary Shares valued at N10 Billion on the floor of The Nigerian Stock Exchange (NSE or The Exchange) today, 28 January 2021.
The listing was commemorated with a digital Closing Gong Ceremony at the NSE where the Managing Director/Chief Executive Officer, Transcorp Hotels, Mrs Dupe Olushola had the honour of bringing the day’s trading to a close.
Speaking at the ceremony, the Chief Executive Officer, NSE, Mr. Oscar N. Onyema, OON stated, “On behalf of the National Council and Management of The Exchange, I congratulate the board and management of Transcorp Hotel’s plc for their laudable commitment towards the sustained growth of this reputable brand. Transcorp Hotels Plc’s successful capital raise with a Rights Issue of 2,642,124,511 additional Ordinary Shares which was 99.3% subscribed despite the prevailing macro-economic challenges is highly commendable. At The Exchange, we remain committed to providing issuers with a platform that allows them to meet their strategic business objectives and it is our delight to see listed companies take full advantage of the NSE’s products and services to support their growth trajectory.
On her part, Mrs. Olusola commented, “I express my deep appreciation to the NSE, other regulators, market operators and of course, our shareholders for their support in the successful completion of our N10 Billion Rights Issue and listing of 2.64 billion ordinary shares. The past year has been a challenging one given the impact of the COVID-19 pandemic on the hospitality sector, and that Transcorp Hotels has not only survived but is firmly on the road to recovery is a testament to the efficacy of our initiatives and we thank you for your belief ins us. Moving forward, we are optimistic about 2021 and we have begun the year in a strong position. We will continue to deepen our share and expand our market leveraging best in class technology and providing the highest service standard across our locations.”
The NSE continues to remain an attractive listing destination as current market conditions favour capital-raising activities across various asset classes. It is also important to note that the NSE has also achieved all-around increased efficiency in terms of competitive pricing structures, improved turnaround time, and enhanced customer experience. ​

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

Dangote Sugar Board of Directors Approves 2020 Audited Financial Statement

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Dangote Sugar Refinery Plc

Board of Directors Has Approved 2020 Audited Financial Statement for Dangote Sugar

The board of directors, Dangote Sugar Refinery Plc, has approved the Financial Statement for the period ended December 31, 2020.

The company disclosed in a statement filed with the Nigerian Stock Exchange on Thursday.

According to the statement signed by Mrs. Temitope Hassan FCIS, Company Secretary/Legal Adviser, Dangote Sugar, the board also recommended the declaration of dividends subject to the approval of shareholders at the Company’s Annual General Meeting to be held in due course.

It stated that “the Closed Period remains in force until 24 hours after the filing of the Financial Statements.

“No insider of the Company, including its Directors, Employees, Advisers and Consultants and their connected persons may deal directly or indirectly in the Shares of the Company during the Closed Period.

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Refinitiv Partners With Nairobi Stock Exchange to Enhance Transparency of Secondary Fixed Income Market in Kenya

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Refinitiv Partners With Nairobi Stock Exchange to Enhance Transparency of Secondary Fixed Income Market in Kenya

 KENYA – Refinitiv partnered with the Nairobi Stock Exchange (NSE) to enhance Fixed Income (FI) price discovery and raise market transparency in Kenya.

As part of the partnership, the NSE will roll out Refinitiv Fixed Income Callouts in Kenya, an automated workflow that facilitates negotiations and agreements of secondary Fixed Income (FI) bond trading among banks, brokerage firms, and real-time integration with the Central Securities Depository (CSD).

The primary FI market has been steadily growing in Sub-Saharan Africa (SSA) as governments explore better access to financing. According to the 2020 Refinitiv investment banking review, SSA debt issuance totalled US$19.0 billion in 2020. With the increased accessibility to technology, electronic trading has emerged as a significant channel to the growth of a secondary FI market across the continent.

The deployment of Refinitiv’s solution will enable the NSE to benefit from an automated Over the Counter (OTC) FI workflow that is integrated in real time with both, the Securities Exchange and the CSD in Kenya.

Geoffrey Odundo, Chief Executive Officer, Nairobi Securities Exchange, said: “We are excited to be working with Refinitiv and the fixed income community to drive innovations in our market and adopt global best practices. Refinitiv’s trading workflow combined with NSE’s post-trade system will help us improve trade life cycle, reduce operational risks and encourage price discovery and transparency in the market.”

Nadim Najjar, Managing Director, Middle East and Africa, Refinitiv, said, “We are proud to partner with the NSE and the local regulators to foster transparency, latency and liquidity. Refinitiv Fixed Income Callouts will allow market participants to benefit from real-time price discovery across bonds and bills. The deployment will also facilitate collaboration among Kenyan banks, brokerage firms, and the CSD.”

“The Kenyan financial markets have seen significant growth over the past few years. This partnership reinforces our commitment to enable the local regulators and financial community with advanced technologies and workflows to achieve efficiency and growth. The adoption of Refinitiv Fixed Income Callouts will create an effective market infrastructure, build greater long-term confidence amongst investors, and ensure strong governance processes,” he added.

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Nigerian Stock Exchange

Stock Market Gains as AIICO, Zenith Bank, Flour Mills, Others Close in the Green

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Stock Market Gains as AIICO, Zenith Bank, Flour Mills, Others Close in the Green

Nigerian Stock Exchange (NSE) closed in the green as stocks of AIICO, Livestock, Flour Mills, Zenith Bank and others closed strong.

Investors traded 337.955 million shares valued at N3.845 billion in 5,232 transactions during the trading hours of Tuesday.

The market value of listed equities grew by N5 billion from N21.009 trillion on Monday to N21.014 trillion on Tuesday while the NSE All-Share Index gained 0.03 percent from 40,154.09 index points recorded on Monday to 40,164.86 index points.

FBNH led the most trade stocks with 64,588,247 shares valued at N471,801,052.30 as shown below.

Top Trades

Symbols Volume Value
FBNH 64,588,247 N471,801,052.30
ZENITHBANK 52,673,009 N1,341,206,505.80
TRANSCORP 41,987,880 N38,118,654.63
UCAP 20,968,270 N128,224,244.12
UBA 18,146,830 N153,239,636.30

Top Losers

Symbols Last Close Current Change %Change
SUNUASSUR N0.81 N0.73 -0.08 -9.88%
LASACO N1.52 N1.37 -0.15 -9.87%
AFRIPRUD N6.6 N5.95 -0.65 -9.85%
ABCTRANS N0.35 N0.32 -0.03 -8.57%
UPL N1.29 N1.18 -0.11 -8.53%

Top Gainers

Symbols Last Close Current Change %Change
AIICO N1.12 N1.2 0.08 7.14%
LIVESTOCK N2.1 N2.25 0.15 7.14%
FLOURMILL N29.2 N31 1.8 6.16%
ZENITHBANK N24.8 N26 1.2 4.84%
CUTIX N2.15 N2.25 0.1 4.65%

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