Nigerian Exchange Limited

Alain Nkontchou Acquires More Ecobank Shares Worth N32 Million

Investors King yesterday reported that Alain Nkontchou bought 123,419,301 ETI shares totaling N689 million at an average price of N5.88 between December 2020 and August 2021.

Published

2 years ago

January 18, 2023

Chris Emenyonu

Just after disclosing that its chairman Alain Nkontchou acquired over a hundred million naira worth of Ecobank shares, Ecobank Transnational Incorporated (ETI) has revealed that Alain Nkontchou has acquired another N32 million worth of ETI shares through Enko Opportunity Growth Fund LTD.

Investors King yesterday reported that Alain Nkontchou bought 123,419,301 ETI shares totaling N689 million at an average price of N5.88 between December 2020 and August 2021.

The Cameroon investor is said to have bought another 31,887,695 volume of shares in multiple transactions for an average price of N10.91 per share.

According to the notification released by the bank and signed by its secretary, Madibinet Cisse, the transaction took place between September and December 2022 at the Lagos office of the Nigerian Exchange.

Investors King understands that Nkontchou had owned a 1.4 percent stake equivalent to 261.7 million ordinary shares as of the end of 2021 and has grown it to 602.7 million as of 31 December 2022 as he aims to increase his stake in the bank to 3.3 percent.

It is understood that Enko Fund first acquired 524,418 shares (at N11.2 per unit) for N5.9 million in early September and later bought over 1.1 million shares (at N11.6 each) worth N12.8 million between 27 and 30 September 2022.

Enko Opportunity Growth Fund is a PE growth-expansion fund led by Enko Capital which was established in 2008. Enko Capital is an African-focused asset management firm managing debt, private debt, equity and private equity investments across Africa.

The firm manages in excess of $560 million in its strategies and offers a deep knowledge of the continent combined with best-in-class investment expertise. Enko seeks to deliver strong risk-adjusted absolute returns across a wide range of strategies for its investors.

In 2022, Investors King reported that Enko Opportunity Growth Fund acquired a total of 322,010,114 Ecobank Transnational Incorporate shares at N11.83 per unit between March 30, 2022 to May 5, 2022.

Alain Nkontchou is the co-founder of Enko Opportunity Growth Fund Limited, co-founder and Managing Partner of Enko Capital Management and the board chairman, Ecobank Transnational Incorporate.

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Nigerian Exchange Limited

Investors Gain N107bn as NGX Opens Week in Green Territory

Published

11 hours ago

October 8, 2024

Iyanuoluwa Martins

Investors opened the week smiling as the Nigerian equities market opened positive at the Nigerian Exchange Group (NGX) with a N107 billion profit on Monday, October 7.

The market capitalisation increased to N56.14 trillion from N56.03 trillion recorded by the bourse on Friday.

The benchmark All-Share Index (ASI) increased to 97,706.70 from 97,520.54 recorded the previous trading day.

The market breadth was positive as 28 stocks advanced and 23 stocks declined, while 67 stocks remained unchanged in 10, 424 deals.

Fidelity Bank ABC Transport and Livestock led other gainers with 10%, 9.76%, and 9.76% growth each in share prices to close at N14.30, N1.35, and N3.60 from the previous N13.00, N1.23, and N3.28 per share.

On the flip side, SCOA, Julius Berger, and Tripple Gee & Company Plc led other price decliners as they shed 10%, 9.95%, and 9.64% each to close at N1.71, N19.00 and N2.25 from the initial N1.90, N21.10, and N2.49 per share.

On the volume index, UBA led trading with 38 million shares valued at N1 billion in 926 deals followed by Access Corporation which traded 23 million shares valued at N459 million in 581 deals.

Caverton Helicopters traded 21 million shares valued at N56 million in 286 deals.

On the value index, UBA recorded the highest value for the day trading stocks worth N1 billion in 926 deals followed by GTCO which traded equities worth N776 million in 576 deals and Access Corporation traded shares valued at N459 million in 581 deals.

Nigerian Exchange Limited

NGX Rebounds with 0.47% Gain, Investors Pocket N262 Billion

Published

3 days ago

October 5, 2024

Iyanuoluwa Martins

The Nigerian Exchange Limited (NGX) appreciated 0.47 percent on Friday to break the recent trend of losses as investors pocketed N262 billion.

The market index or All-Share Index (ASI) rose by 456.12 basis points on Friday’s trading session, reflecting a 0.47 percent increase to close at 97,520.54.

Buying appetite in some medium and large-cap stocks, including Seplat, Julius Berger, Guinness, and others spurred the positive outcome.

However, market activities were mixed as the total volume traded was up by 19.5% while the total value traded dropped by 10.9%.

The daily trading data showed that approximately 320.70 million units valued at N6,021.56 million were transacted across 8,763 deals.

Tier-1 bank, UBA was the most traded stock in terms of volume, accounting for 11.5% of the total volume of traded transacted in the market.

Other volume drivers include Sterling Bank (7.35%), Ellah Lakes (7.27%), Wapco (5.20%), and Regalins (4.99%) to complete the top 5 on the volume chart.

UBA emerged as the most traded stock in value terms, with 16.5% of the total value of trades on the exchange.

Based on the trading directions, the market breadth closed positive, recording 34 gainers and 21 losers.

Seplat topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by ABC Transport, up by 9.82%.

Other gainers include Livestock (+9.70%), Caverton (+9.62%), FTN Cocoa (+9.29%), Ellah Lakes (+8.43%) and twenty-eight others.

Twenty-one (21) stocks depreciated, according to stockbrokers. Eterna was the top loser, with a price depreciation of -10.00%.

Other decliners include PZ (-9.49%), Dangote Sugar (-5.85%), Fidelity Bank (-4.76%), Nascon (-2.91%), and Oando (-1.95%).

Nigerian Exchange Limited

NGX Market Cap Further Loses N671 Billion

Published

5 days ago

October 4, 2024

Iyanuoluwa Martins

Nigerian Exchange Limited - Investors King

The Nigerian Exchange Limited (NGX) continued its presence in the red territory on Thursday as investors counted losses valued at N671 billion at the close of trading on Thursday, October 3.

The market capitalisation dropped 1.19% to N55.7 trillion from N56.4 trillion recorded by the bourse on Wednesday, while the benchmark All-Share Index (ASI) also decreased to 97,064.42 from 98,232.39 recorded the previous trading day.

The market breadth was negative as 23 stocks advanced and 27 stocks declined, while 65 stocks remained unchanged in 8,565 deals.

Investors sold mostly industrial and consumer goods stocks despite the rally seen in oil & gas and insurance stocks.

Dangote Cement Plc decreased most on the Nigerian Exchange Limited (NGX) by N53.20 or 10%, from N532 to N478.80. It was followed by CWG which decreased from N6.50 to N6.20, adding 30kobo or 4.62%.

Seplat, Livestock, and Regalins led other gainers with 10%, 9.93%, and 9.76% growth each in share prices to close at N4, 513.40, N2.99, and N0.90 from the previous N4, 103.10, N2.72, and N0.82 per share.

On the flip side, Dangote Cement, NSL Tech, and UPDC Real Estate led other price decliners as they shed 10%, 7.58%, and 4.72% each to close at N478.80, N0.61 and N5.05 from the initial N532.00, N0.66, and N5.30 per share.

On the volume index, United Bank for Africa (UBA) led trading with 37 million shares valued at N993 million in 909 deals followed by ZENITH BANK which traded 19 million shares valued at N716 million in 323 deals. Dean Capital traded 13 million shares valued at N20 million in 159 deals.

On the value index, Seplat recorded the highest value for the day trading stocks worth N2.3 billion in 13 deals followed by UBA which traded equities worth N993 million in 909 deals and Zenith Bank traded shares valued at N716 million in 323 deals.