Skyway Aviation Handling Company Limited (SAHCOL) will next month open to public investors as it enlists on the floor of the Nigerian Stock Exchange (NSE).The Guardian learnt that the listing was aimed at improving the financial status of the company, especially to enable it acquire more state-of-the-art ground handling equipment. It was yesterday gathered that the management and board of the company had met with the Bureau of Public Enterprise and Securities and Exchange Commission (SEC) to make public share offering on the company, which the Federal Government privatised in
The Chairman and Chief Executive Officer, Dangote Cement Plc, Aliko Dangote, says Bank of America Merrill Lynch and Standard Chartered Bank could be among the banks to organise the 2019 London public listing of Dangote Cement. Dangote, when asked by Reuters who the bankers could be for the Initial Public Offering, was quoted in part as saying, “The usual ones ― Bank of America Merrill Lynch and Standard Chartered Bank.” The PUNCH reported on February 17, 2018 that the company revived plans for a share sale in London that could
The Central Bank of Nigeria has asked the court not to grant an injunction that will stop the MTN Group from transferring the disputed $8.1bn back to the country, and wants the company to pay 15 per cent annualised interest on the sum until judgment is given, and 10 per cent from then until the whole amount is paid. The CBN made this argument in documents filed with the Federal High Court in Lagos in the past week and seen by Bloomberg News on Thursday. The apex bank alleged in
As Green Bond issuance set to gain traction in the country, the Nigerian Stock Exchange (NSE) is proposing a set of rules that will guide the listing of those bonds on the exchange. Green bonds are special bonds issued to finance or re-finance in part or in full new and existing eligible environmental or climate projects. The federal government kicked off the issuance of green bonds by raising N10.69 billion last December and this was expected to be followed by more issuances by the government and other corporates. And to
The Nigerian equities market continued on a downward slide at the end of the day’s trading activity, as both NSE ASI and market capitalization decreased by 0.09% respectively, as they both closed at 32,423.57points and N11,838tr respectively. Year-to-Date ASI is at a negative of 15.27%.
Volume and Value of trades both increased by 10.69%, 7.82% to N151.347M, 1,542.64B, while No of trades decreased by 15.89% to 2,356 respectively.
CUTIX topped the gainers’ table with percentage price change of 10.00%, while OKOMUOIL led the losers’ chart with percentage change of 4.94%
The Nigerian equities market Compressed at the end of the day’s trading activity, as both NSE ASI and market capitalization decreased by 0.79% respectively, as they both closed at 32,454.03points and N11,848tr respectively. Year-to-Date ASI is at a negative of 15.19%.
Volume , Value of trades and No of trades all decreased by 25.93%, 57.72% and 3.05% to N136.732M, 1,430.74B and 2,801, respectively.
CUTIX topped the gainers’ table with percentage price change of 4.88%, while NB led the losers’ chart with percentage change of 2.73%
Market breadth was POSITIVE with Fifteen (15)
The Nigerian equities market declined on the first trading day of the new month, as both NSE ASI and market capitalization decreased by 0.17% respectively, as they both closed at 32,711.65points and N11,942.28tr respectively, at today’s trading activity. Year-to-Date ASI is at a negative of 14.51%.
Volume , Value of trades and No of trades all increased by 0.03%, 19.89% and 27.22% to N184.593M, 3,383.64B and 2,889, respectively.
FO topped the gainers’ table with percentage price change of 6.73%, while CCNN led the losers’ chart with percentage change of 8.30%
MTN Group has said it may no longer seek to raise capital through an Initial Public Offering (IPO) on the Nigerian Stock Exchange (NSE) as previously planned, while considering the option of listing its existing shares. The company, which operates the largest telecoms network in Nigeria and Africa, is reconsidering the IPO amid a dispute with the Nigerian authorities, which is its biggest market that wiped more than a third of the company’s market value over three weeks. MTN Nigeria had in 2015, pledged to list its shares on the
Succor may have come the way of investors on the Nigerian Stock Exchange (NSE), as the Securities and Exchange Commission (SEC) and FSD Africa, at the weekend, sealed a 450,000 euro deal, aimed at strengthening the regulatory structure and investment protection function of the commission. The deal is expected to assist SEC to fund an institutional capacity audit, towards identifying strengths and areas of improvement in its operations, as well as provide support to implement recommendations. At the signing ceremony held at the British Deputy High Commission, Lagos, at the
The Chartered Institute of Stockbrokers (CIS), has urged the telecom giant, MTN, to dispatch with all regulatory headwinds properly before coming to the stock market for public offering to Nigerians, to enable it list at optimal price favourable to the company and investors. A member of the CIS 2018 Conference Committee, Akeem Oyewale, gave the advice while fielding questions from journalists at a news conference to announce the forthcoming Stockbrokers’ 2018 Conference, slated for October 4 and 5, in Lagos.He noted that the parent company of MTN lost about 30