Cititrust Financial Services, an investment firm, has said it has perfected arrangements to list by introduction on the Nigerian Stock Exchange before the end of the second quarter.
It also said it would make quality and significant contribution towards the growth of the economy, especially in the Small and Medium Scale Enterprises sub-sector.
A statement titled ‘Cititrust Financial Services affirms its support to SMEs in Nigeria’ on Sunday said this was despite the challenging economic and regulatory landscape.
The Country Chief Executive Officer, Cititrust Financial Services, Mr Ikechukwu Peter, said that the company’s decision to list on the exchange was to make its shares available to more Nigerians and to raise capital.
According to him, SMEs accounted for the majority of businesses worldwide and were significant contributors to job creation and global economic development.
He stated, “Also, they represent about 90 per cent of businesses and more than 50 per cent of employment worldwide.
“It is equally on record that formal SMEs contribute up to 40 per cent of Gross Domestic Product in emerging economies.”
Following the belief that creating avenues for business improvement, profitability and sustainability was important to the growth and advancement of any nation, Cititrust Financial Services assured it would unlock several opportunities for SMEs to thrive, he stated.
On growing the business, he said the company would also grow its balance sheet size of N36bn by 50 per cent before the end of 2021.
“We are also looking at growing our lending powers; we have a risk asset portfolio of about N12bn. We are also looking at growing that by another 50 per cent incrementally by the end of this year,” he said.
He said that the company was also making plans to migrate Living Trust Mortgage Bank from a state licensed mortgage bank to a national mortgage bank.
Peter said, “We are coming up with a programme through our Cititrust Academy on April 15, where people can learn the basics of business and be able to impact their operational lives as they move on.”
Stock Investors Gained N25 Billion on Wednesday
Investors that invested in the Nigerian Exchange Limited (NGX) gained N25 billion on Wednesday as more stocks closed in the green.
Investors traded 141,407,914 shares valued at N2.973 billion in 3,079 transactions during the trading hours of Wednesday, contrast to 228,479,010 shares valued at N1.879 billion that exchanged hands in 3,376 deals on Tuesday.
Market value grew by N25 billion from N20.278 trillion it closed on Tuesday to N20.303 trillion on Wednesday, while the NGX All-Share Index appreciated by 0.12 percent to 38,968.34 index points, up from 38,920.5 index points.
UPDC Plc led gainers for second consecutive day with N0.16 or 9.64 percent to close at N1.82 per share. While N Nig. Flour Mills Plc followed with N0.70 or 9.59 percent to settle at N8 a unit. See the details below.
|UPDC||N 1.66||N 1.82||0.16||9.64 %|
|NNFM||N 7.30||N 8.00||0.70||9.59 %|
|OANDO||N 4.35||N 4.62||0.27||6.21 %|
|LEARNAFRCA||N 1.36||N 1.44||0.08||5.88 %|
|HONYFLOUR||N 3.92||N 4.07||0.15||3.83 %|
|TRANSCOHOT||N 5.00||N 4.50||-0.50||-10.00 %|
|CHIPLC||N 0.53||N 0.48||-0.05||-9.43 %|
|PRESTIGE||N 0.48||N 0.44||-0.04||-8.33 %|
|CHAMPION||N 2.08||N 1.91||-0.17||-8.17 %|
|LASACO||N 1.30||N 1.20||-0.10||-7.69 %|
Nigerian Exchange Limited Closes Slightly in Green on Tuesday Following Weeks of Bearish Trend
The Nigerian Exchange Limited (NGX) rebounded slightly from bearish trends on Tuesday as investors gained N2 billion after weeks of trading in the red.
Market value of all stocks rose to N20.278 trillion on Tuesday, up by N2 billion from N20.276 trillion recorded on Monday. While the NGX All-Share Index gained 0.01 to close at 38,920.5 index points from 38,915.62 index points it settled on Monday.
Investors transacted 228,479,010 shares valued at N1.879 billion in 3,376 deals during the trading hours of Tuesday, against 201,103,282 shares worth N2.526 billion that exchanged hands in 3,340 transactions on Monday.
UPDC Plc led gainers with N0.15 or 9.93 percent to close the day at N1.66 a share while Academy Press Plc followed with N0.03 or 8.33 gain to settle at N0.39 a unit.
Investors renewed interest in Wema Bank as a total of 46,760,667.00 shares valued at N35,973,004.78 were traded during on Tuesday. Access Bank came second with 28239839.00 shares worth N263,494,888.05
|UPDC||N 1.51||N 1.66||0.15||9.93 %|
|ACADEMY||N 0.36||N 0.39||0.03||8.33 %|
|COURTVILLE||N 0.27||N 0.29||0.02||7.41 %|
|VITAFOAM||N 16.75||N 17.40||0.65||3.88 %|
|LIVESTOCK||N 2.08||N 2.14||0.06||2.88 %|
|SOVRENINS||N 0.27||N 0.25||-0.02||-7.41 %|
|UPL||N 1.09||N 1.02||-0.07||-6.42 %|
|REGALINS||N 0.48||N 0.45||-0.03||-6.25 %|
|UACN||N 10.30||N 9.80||-0.50||-4.85 %|
|CHAMS||N 0.22||N 0.21||-0.01||-4.55 %|
Stock Market Dips Marginally on Monday, Investors Lose N3 Billion
The Nigerian Exchange Limited (NGX) extended its decline on Monday after losing N177 billion in market value last week.
The market capitalisation of all listed equities depreciated by N3 billion from N20.279 trillion it closed on Friday to N20.276 trillion on Monday. While the NGX All-Share Index declined by 0.02 percent from 38,921.78 index points recorded last week to 38915.62 index points on Monday.
Investors traded 201,103,282 shares worth N2.526 billion in 3,340 transactions during the trading hours of Monday.
In terms of volume traded, Universal Insurance Plc led with 19446846.00 shares valued at N3,889,371.20. Fidelity Bank followed with 19282958.00 shares worth N46,513,270.13. See the details below.
|MORISON||N 1.92||N 2.10||0.18||9.38 %|
|SOVRENINS||N 0.25||N 0.27||0.02||8.00 %|
|LINKASSURE||N 0.57||N 0.60||0.03||5.26 %|
|FIDELITYBK||N 2.30||N 2.40||0.10||4.35 %|
|INTBREW||N 4.80||N 5.00||0.20||4.17 %|
|SCOA||N 1.30||N 1.17||-0.13||-10.00 %|
|ACADEMY||N 0.39||N 0.36||-0.03||-7.69 %|
|UPDC||N 1.61||N 1.51||-0.10||-6.21 %|
|ABCTRANS||N 0.35||N 0.33||-0.02||-5.71 %|
|OANDO||N 4.64||N 4.45||-0.19||-4.09 %|
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