Connect with us

Nigerian Exchange Limited

Folasope Babasola Aiyesimoju, Group Managing Director UACN, Dumps N231.750 Million on UACN Shares

Published

on

Folasope Babasola Aiyesimoju - Investors King

The Group Managing Director of UAC of Nigeria Plc (UACN), Folasope Babasola Aiyesimoju, invested N231.750 million in UACN Shares.

The management disclosed in a statement signed by Nkemdirim Agboti, Company Secretary, UACN.

Aiyesimoju bought 22,500,000 UACN shares at N10.30 a unit on May 11 2021 in Lagos, Nigeria (the Nigerian Exchange Limited trading floor).

Aiyesimoju became UACN Group Managing Director and Chief Executive Officer on April 1 2019 following Mrs Omolara Elmide exit.

Mr Aiyesimoju is a finance professional with experience spanning corporate finance, principal investing and private equity. Over the course of his career, Fola has lived and worked in Sub-Saharan Africa’s most important economies gaining experience of the operating landscape in the region. He holds a B.Sc. (Hons) degree in Estate Management from the University of Lagos, where he was awarded a Certificate of Excellence in Real estate development and finance, and earned the right to use the CFA designation in 2006.

He is the founder of Themis Capital Management, an investment firm focused on concentrating capital and talent on high-potential opportunities in Sub-Saharan Africa.

Aiyesimoju first joined the Board of UAC of Nigeria PLC in March 2018 and is a member of the Governance and Remuneration Committee of the Board. He was also appointed Managing Director/CEO of UACN Property Development PLC (“UPDC PLC”) in August, 2018 and, in his capacity as Group MD/CEO of UAC, will serve concurrently as Managing Director/CEO of UPDC PLC until anew Managing Director/CEO is appointed for the subsidiary company.

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.

Continue Reading
Comments

Nigerian Exchange Limited

FBN Holdings, Other Stocks Lift NGX Market Value by N2 Billion on Tuesday

First Bank of Nigeria, Fidelity Bank, Zenith Bank, Linkage Assurance among others lifted the market value of the Nigerian Exchange Limited (NGX) by N2 billion on Tuesday. 

Published

on

Nigerian Exchange Limited - Investors King

FBN Holdings, Fidelity Bank, Zenith Bank, Linkage Assurance among others lifted the market value of the Nigerian Exchange Limited (NGX) by N2 billion on Tuesday. 

Trading session on the NGX on Tuesday 20th, 2022 witnessed some sell-off, especially in the blue-chip stocks. However, despite the sell-off, investors gained N2 billion in value as market capitalisation went up to N26.670 trillion. 

NGX All-Share Index (ASI) rose by 5.10 points, representing a growth of 0.01 percent to close at 49,445.31 points. 

Investors King analysis shows that the gains recorded in First Bank, Fidelity bank, Zenith Bank, Linkage Assurance, Briscoe Nigeria and six others were responsible for the marginal gain recorded on the Exchange today. 

R.T. Briscoe Nigeria led gainers with 10 percent to close at 33 kobo per share. First Bank of Nigeria Holdings followed with a gain of 5.00 percent to close at N10.50, while Linkage Assurance rose by 4.35 percent to call it a day at 48 kobo a share.

Also, Regency Alliance Insurance went up by 4.00 percent to close at 26 kobo. Mutual Benefits Assurance appreciated by 3.70 percent to settle at 28 kobo a unit.

Among gainers were Fidelity Bank and Jaiz Bank, the two added 2.05 percent and 1.20 kobo to close at N3.48 kobo and 84 kobo, respective.

Other stocks that appreciated on Tuesday include TransNational Corporation which appreciated by 95 percent to close at N1.06 kobo. Capital Hotel gained 29 percent to close at N3.41 kobo. Zenith Bank also garnered 25 percent to close at N19.80 kobo.

However on the losers side, TotalEnergies Marketing Nigeria led the pack by 9.98 percent to close at N211.10. Learn Africa followed with a decline of 9.71 per cent to close at N1.86, while Honeywell Flour Mills shed 8.13 percent to close at N2.26, per share. 

Continue Reading

Nigerian Exchange Limited

Red Star, Beta Glass, Others Top Losers as Stock Investors Lose N119 Billion Last Week

The Nigerian stock market closed in the red last week despite posting a 0.70% gain in the previous week.

Published

on

Nigerian Stock Exchange

The Nigerian stock market closed in the red last week despite posting a 0.70% gain in the previous week.

Investors exchanged a total of 719.398 million shares worth N8.004 billion in 17,444 deals, against a total of 949.819 million shares valued at N9.329 billion that exchanged hands in 18,525 deals in the previous week.

Breaking down activity in key sectors, the Financial Services Industry led the activity chart with 411.407 million shares valued at N3.943 billion traded in 9,471 deals. Therefore, contributing 57.19% and 49.26% to the total equity turnover volume and value respectively.

The ICT Industry followed with 177.815 million shares worth N955.781 million in 1,573 deals. The third place was the Conglomerates Industry, with a turnover of 36.577 million shares worth N2.332 billion in 2,425 deals.

Courteville Business Solutions Plc, Zenith Bank Plc and Access Holdings Plc were the three most traded equities and accounted for 278.293 million shares worth N1.984 billion that exchanged hands in 3,038 deals. The three contributed a combined 38.68% and 24.78% to the total equity turnover volume and value respectively.

The Nigerian Exchange Limited (NGX) All-Share Index depreciated by -219.70 index points, or 0.44% to 49,475.42, down from 49,475.42 index points recorded in the previous week. The market value of all listed equities declined by N119 billion from N26.805 trillion it closed in the previous week to N26.686 trillion last week.

Similarly, all other indices finished lower while the NGX ASeM and NGX Growth indices closed flat.

Thirteen equities appreciated in price during the week, lower than twenty-two equities in the previous week. Thirty-nine equities depreciated in price higher than Thirty-six in the previous week, while one-hundred and four equities remained unchanged higher than ninety-eight equities recorded in the previous week.

The Exchange year-to-date return to 15.82%. See details of top gainers and losers below.

Top 10

Continue Reading

Nigerian Exchange Limited

Nigerian Stock Market Shed N187 Billion On Tuesday

Nigeria’s equity market decreased by 0.69 percent on Tuesday

Published

on

stock bear - Investors King

Nigeria’s equity market decreased by 0.69 percent on Tuesday. Driven majorly by increased sell pressure in stocks like NGX Group Plc, Zenith Bank Plc, NPF Microfinance Bank Plc and Livestock Feeds Plc, the stock lost about N187 billion. 

NGX Group was the most affected after its share price dropped from N21 to N20, down by N1 or 4.76percent.

This was followed by Zenith Bank Plc which dropped from N21 to N20.25, down by 75 kobo or 3.57 percent; while NPF Microfinance Bank Plc dipped from N1.66 to N1.53, losing 13 kobo or 7.83 percent.

Sterling Bank, Transcorp, Zenith Bank, GTCO and UBA were the most traded stocks as investors in 4,247 deals exchanged 138,991,046 shares valued at N2.725 billion.

The market’s All-Share Index (ASI) and capitalisation decreased further on Tuesday from the preceding day’s highs of 49,991.41 points and N26.964 trillion respectively to 49,644.92 points and N26.777 trillion.

These drops are a continuation of the wider equity sell-off because of the uncertainty in the market. 

Reacting to this mixed development, an analyst at PAC Holdings, Wole Adeyeye, said some investors migrated from the stock market to the fixed-income market in a move to take advantage of high yields, which was triggered by the recent hike in policy rate. 

He stated further that “ foreign investors avoided the Nigerian stock market due to the upcoming general elections, weak local currency and insecurity in the country.” 

While this trend may likely continue for a couple of months because of the attractiveness of the fixed income market which is expected to remain relatively high and the uncertainty surrounding the economy which has created a degree of fear for investors, the long-term outlook of the equity market looks positive.

 

Continue Reading
Advertisement
Advertisement




Advertisement
Advertisement
Advertisement

Trending