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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.

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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.

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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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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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Nigerian Exchange Limited

Nigerian Stock Market Depreciates Marginally Last Week

The Nigerian Exchange Limited (NGX) depreciated slightly last week as economic uncertainty ahead of the 2023 general elections continues to dictate market directions.

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Nigerian Exchange Limited - Investors King

The Nigerian Exchange Limited (NGX) depreciated slightly last week as economic uncertainty ahead of the 2023 general elections continues to dictate market directions.

A total of 1.005 billion shares worth N10.406 billion were exchanged in 17,844 deals during the week, against a total of 562.856 million shares valued at N9.438 billion that exchanged hands in 16,013 deals in the previous week.

Breaking down each of the key sectors, the Financial Services Industry led the activity chart with 757.289 million shares valued at N6.947 billion traded in 9,483 deals. Therefore, contributing 75.38% and 66.76% to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 75.118 million shares worth N82.955 million in 494 deals.

In third place was the Consumer Goods Industry, with a turnover of 50.186 million shares worth N1.457 billion in 2,798 deals.

Jaiz Bank Plc, Guaranty Trust Holding Company Plc, and Zenith Bank Plc. were the three most traded equities during the week. The three accounted for 460.216 million shares worth N4.963 billion in 4,281 deals and contributed 45.81% and 47.69% to the total equity turnover volume and value respectively.

The market value of listed equities appreciated by 0.03 percent to N26.451 trillion last week, while the NGX All-Share Index declined by 0.01% to close the week at 49,024.16 index points.

Similarly, all other indices finished lower with the exception of NGX Main-Board, NGX 30, NGX Oil & Gas and NGX Industrial Goods, which appreciated by 0.25%, 0.04%, 0.20%, and 3.01% while The NGX ASeM, NGX Growth and NGX Sovereign Bond indices closed flat.

Twenty-five equities appreciated in price during the week, higher than Seventeen equities in the previous week. Thirty-three equities depreciated in price lower than Forty-two in the previous week, while ninety-eight equities remained unchanged higher than ninety-seven equities recorded in the previous week.

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