The Nigerian Stock Exchange (NSE) has announced the postponement of the planned listing of Airtel Africa.The telecommunication company had planned to list its shares on the NSE on July 5.However, the NSE said the listing of Airtel Africa had been postponed over "approval prerequisites".“The cross border secondary listing of 3,758,151,504 ordinary shares of Airtel Africa Plc has been postponed from [...]
Tag "Nigerian Stock Exchange"
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MTN Group says it has appointed Lamido Sanusi, emir of Kano and former governor of the Central Bank of Nigeria, as a non-executive director on its board.In a statement released on Friday, the Johannesburg-based telecommunications company also announced the appointment of Mcebisi Jonas, South Africa's former deputy finance minister, as chairman.Jonas will replace Phuthuma Nhleko, its present chairman, who is [...]
Bismarck Rewane, chief executive officer of Financial Derivatives Company, has resigned from the board of FCMB Group Plc.Before his resignation, Rewane had been an independent non-executive director of the bank since 2002, and serves on the boards of several blue-chip companies within corporate Nigeria.In a disclosure on the Nigerian Stock Exchange (NSE) on Tuesday, FCMB said his resignation was accepted [...]
The market capitalisation of the Nigerian Stock Exchange (NSE) shed N85 billion in what traders have attributed to profit taking in reaction to the results of the presidential poll.The market, which opened at N12.194 trillion, closed at N12.109 trillion after six hours of trading on Tuesday.Also, the All-Share Index lost 226.30 points or 0.69% to close at 32,473.82, compared with [...]
Investors on the Nigerian Stock Exchange lost N196 billion on Monday due to profit-taking activities during the five hours of trading on the bourse.The All-Share index, which opened at 32,715.50, lost 525.43 points to close at 32,190.07 with market capitalisation closing at N12.004 trillion as against its opening N12.200 trillion.Financial analysts had predicted a sour trading day after the Independent [...]
Alpha Trust Investment Club (ATIC), an online group, has urged its members to make use of investment opportunities on the platform to build a sustainable financial base.Remi Adeoye, founder of ATIC, said this when members of the group converged on Ikeja in Lagos on Saturday.He said the platform presents many opportunities in the stock exchange sector.Adeoye said the group which [...]
The Nigerian Stock Exchange (NSE) started the year 2019 on the red side, as the market shed N134 billion on Wednesday.As at the last trading day of 2018, the market capitalisation stood N11.7207 trillion, only to fall by N134 billion to N11.5863 trillion on the first trading day of 2019.The all share index (ASI) also fell from 31,430.50 on the [...]
The Nigerian Stock Exchange is now among some of the worst performing stocks globally.This is according to data compiled by Bloomberg.The bourse had been listed as one of the top five best-performing stocks globally at the end of 2017 by S&P Dow Jones Indices.At the end of 2017, the Nigerian Stock Exchange grew by 43%, a feat S&P Dow Jones [...]
Investors on the Nigerian Stock Exchange lost N287 billion in the five trading hours of Friday; a move that saw market capitalisation drop below the N13 trillion mark.The last time the market experienced a loss of this magnitude was on August 15, 2017.The All-Share Index lost 786.19 points or 2.17 per cent to close at 35,446.47 compared with 36,232.66 on [...]
The Nigerian Stock Exchange has suspended trading on shares belonging to Paints and Coating Manufacturers Plc.According to a circular released by the bourse on Wednesday, the suspension is to allow the company determine which shareholders are qualified to receive scheme shares ahead of the company's voluntary delisting.According to NSE regulations, quoted companies can choose to voluntarily delist their shares for [...]
The Nigerian Stock Exchange (NSE) has lifted an 18-month suspension placed on shares belonging to Ikeja Hotel since November 10, 2016.According to a ‘facts behind the restructuring’ document released by Tinuade Awe, NSE executive director, regulation, trading would commence on the shares of the company on May 21.NAN reports that the shares were suspended because of a dispute among major [...]
The Securities Exchange Commission (SEC) says companies may raise as much as N200 billion from the sale of debt instruments in 2018.If actualized, this would be the highest ever in the country's history.According to SEC, five companies have already submitted plans for debt sales totaling N60.5 billion.It said improved liquidity on the Nigerian Stock Exchange and FMDQ OTC Securities Exchange [...]
The Nigerian Stock Exchange (NSE) has lifted the technical suspension on Oando's shares for the second time in 48 hours.In a statement released on Wednesday, NSE said the instructions from the Securities and Exchange Commission was the root of the confusion.According to the statement, NSE received notification from the commission to lift the suspension on Oando shares only to receive [...]
Rob Shuter, the chief executive officer of MTN, says the company will list on the Nigerian Stock Exchange in 2018 if the conditions are appropriate.Shuter made this known on Tuesday while speaking in Lagos after signing a partnership on mobile banking with Ecobank.Listing on the NSE had been one of the conditions stipulated by the Nigerian Communications Commission (NCC) after MTN [...]
Shareholders of Lafarge Africa Plc, listed as WAPCO on the Nigerian Stock Exchange (NSE), on Monday traded off shares of the company on the news of a loss.In its annual statement released on the NSE, the company announced a loss of N34 billion before tax and N34.6 billion after tax for Q4 2017.This is lower than the N16.8 billion profit [...]
The naira remained stable on Tuesday despite losses recorded on the Nigerian Stock Exchange and global crude oil market.The naira appreciated against the dollar to exchange at N361/$ against Monday's exchange price of N363 to the dollar.The gain can be attributed to weekly interventions by the Central Bank of Nigeria (CBN) to make forex available to various segments of the [...]
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