Connect with us

Stock Market

Insider Dealing: Tony Elumelu Adds 2.199 Million UBA Shares to His Holdings

Published

on

UBA

UBA Chairman, Tony Elumelu Buys Additional 2.199m UBA Shares

Tony O. Elumelu, the Chairman of the United Bank for Africa and Heirs Holding Limited, purchased additional 2,199,373 shares of United Bank for Africa Plc.

In a statement signed by Bili A. Odum, Company Secretary, UBA and released on the Nigerian Stock Exchange, the bank stated that Mr. Tony O. Elumelu bought the shares on Wednesday, July 22, 2020 from the Nigerian Stock Exchange in Lagos at an average price of N6.15 per share.

This was in addition to the 62,643,500 and 6,980,426 shares purchased between 20 and 21, July 2020 in Lagos. Therefore, the Chairman has now purchased a combined 71,823,300 shares in the month of July.

To better throw more light on the activities of UBA executives, Ayoku Liadi, one of the company’s executives, also purchased 3,000,000 shares on July 15, 2020. Bringing the total purchases by UBA executives in July to 74,823,300.

Below are the details of Elumelu’s latest purchase.

UBA insider dealings UBA insider dealings

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.

Stock Market

Conoil Declares N1.39 Billion Dividend for 2019 Financial Year

Published

on

Conoil

Conoil to Pay Shareholders N1.39 Billion Dividend for 2019 Financial Year

Conoil Plc has approved N1.39 billion dividend payment for its shareholders for the 2019 financial year.

In a statement released by the company on Sunday, shareholders of the company would get a dividend of 200 kobo per 50 kobo ordinary share.

At the virtual 50th Annual General Meeting held on Friday in Lagos, the shareholders agreed unanimously in the commendation for the board and management for the company’s performance and consistency in the payment of dividends.

Conoil grew profit before tax by 10.4 percent to N2.83 billion in the 2019 financial year while profit for the expanded by 9.8 percent to N1.97 billion during the same period.

The oil marketer also grew total assets by 4.4 percent to N63.6 billion while interest expense declined by 26 percent to N1.1 billion during the 2019 financial year.

Addressing shareholders of the company, Mike Adenuga Jr., the Chairman, Conoil Plc, said the strong performance was in line with the promise made to shareholders regarding better execution of value-added products and services.

The chairman said the oil company has set an ambitious growth strategy, driven by broad market penetration and innovation, for the next five years.

Continue Reading

Stock Market

Zimbabwe Government Introduces US Dollar Stock Exchange to Lure Investors

Published

on

Zimbabwe Introduces US Dollar Based Stock Exchange Market to Lure Foreign Investors

The Government of Zimbabwe has introduced US dollar based Stock Exchange market to lure global investors to the embattled economy.

The new stock exchange known as Victoria Falls Stock Exchange is a subsidiary of the Harare-based Zimbabwe Stock Exchange (ZSE) and will commence trading on Monday, according to the state-run Herald newspaper.

According to the Minister of Finance, Zimbabwe, Mthuli Ncube, The new Exchange based in northwestern Victoria Falls, the country’s premier tourism destination – marked “the foundation stone” for building the town into an “offshore financial hub”.

He said “We saw an opportunity to work with the ZSE in creating a global platform for the trading of stocks in foreign currency, and to do it in a way that promotes foreign investment into Zimbabwe.

The finance minister said the new bourse will cater mainly for mining conglomerates and giant international corporates such as insurance giant Old Mutual.

Zimbabwe continues to struggle with low foreign exchange amid worst economic crisis in more than a decade.

President Emmerson Mnangagwa, who came into power through military coup in 2017, blames the current economic crisis on unnamed “detractors” and Western-imposed sanctions.

Continue Reading

Stock Market

Nigerian Stock Exchange Gains Slightly this Week Despite Unrest

Published

on

Stock Investors

Stock Market Gained N19 Billion this Week Despite Unrest

The Nigerian Stock Exchange appreciated by N19 billion this week despite the #EndSARS protest that grounded business activities in major cities.

Investors traded a total turnover of 1.505 billion shares worth N19.668 billion in 20,552 deals during the week, against a total of 1.955 billion shares valued at N22.978 billion that exchanged hands last week in 22,844 deals.

In terms of volume traded, the Financial Services industry led the activity chart with 1.196 billion shares valued at N14.950 billion traded in 11,318 deals; thus contributing 79.47 percent and 76.01 percent to the total equity turnover volume and value respectively.

The Conglomerates industry followed with 97.167 million shares worth N269.045 million in 516 deals.

In third place was the Consumer Goods, with a turnover of 77.588 million shares worth N1.928 billion in 3,461 deals.

Trading in the top three equities was Guaranty Trust Bank Plc, Access Bank Plc and United Bank for Africa Plc. The three accounted for 633.527 million shares worth N10.006 billion in 3,887 deals, together they contributed 42.08 percent and 50.87 percent to the total equity turnover volume and value, respectively.

The Nigerian Stock Exchange Market Capitalisation expanded by 0.13 percent or N19 billion during the week from N14.980 trillion last week to N14.999 trillion this week.

The NSE All-Share Index also gained 0.13 percent or 37.61 basis points from 28,659.45 bps it closed last week to 28,697.06 bps this week.

The index year-to-date return rose to 6.91 percent when the quarter-to-date has risen by 6.95 percent.

Continue Reading

Trending