Ashaka Cement delists from NSE for violating free float deficiency provision
Businessam Staff
July 5, 2017
Ashaka Cement Plc has voluntarily delisted from the Nigerian Stock Exchange (NSE) for violation of the exchange free float deficiency provision of 20 per cent. The company announced its voluntary withdrawal in a statement posted on NSE website by the company’s directors. “The Board of Directors of Ashaka Cement Plc has opted for a voluntarily […]
Nigerian bourse: Analysts see profit taking at first few trading sessions this week
Businessam StaffJuly 3, 2017
Though the Nigerian equities market recovered from previous week’s loss last week, with investors resorting to bargain hunting in stocks that had depreciated in prior trading sessions, analysts see profit taking ruling the market in the first few days of this week. Last week’s performance at the bourse saw the benchmark index climbing 3.1% weak-on-week […]
Activities at Nigeria’s equities market rise 274% in May as domestic investors lead charge
Businessam StaffJune 29, 2017
Activities at the Nigeria’s equities market rebounded in the month of May as total transaction at the market rise 274.51 percent to close N205.61 billion from N54.90 billion recorded in April, according to the Nigerian Stock Exchange (NSE) polled trading figures. The NSE figures also indicate that domestic investors outperform foreign portfolio participation in Nigeria’s […]
Investors charge SEC to enforce ‘dividend payout policy’ on listed firms
Niyi JacobsJune 29, 2017
Investors in the Nigeria capital market are asking the regulator, the Securities and Exchange Commission (SEC), to mandate quoted companies, especially top firms by market capitalization to submit and make public their dividend policy statements. Dividend policy, as a set of guidelines a company uses to decide how much of its earnings would be paid […]
Nigeria’s SEC extends deadline for the stoppage of physical dividend warrant issuance
Businessam StaffJune 28, 2017
The Securities and Exchange Commission (SEC) has extended the deadline for the stoppage of issuance of physical dividend warrants in the nation’s capital market to Dec. 31, 2017. The stock market regulator also extended the underwriting cost of investors’ e-dividend registration to Dec. 31, 2017 from against the earlier underwriting deadline of June 30, 2017 […]
Nigeria’s SEC set to enforce September 1 deadline for forfeiture of N45bn unclaimed dividend
Niyi JacobsJune 27, 2017
The Securities and Exchange Commission (SEC) and the Capital Market Committee (CMC) are set to enforce the September 1, 2017 deadline for the forfeiture of about N45 billion unclaimed dividend in the Nigeria capital market. In a circular, SEC noted that stakeholders agreed to adopt a non-prosecutor approach to resolve the issue of multiple subscriptions, […]
FBN Insurance shareholder, Sanlam, sells stake in Ghanaian firm, Enterprise Group
Businessam StaffJune 23, 2017
Sanlam, South Africa’s largest insurer, which also has 30 percent stake in Nigeria’s FBN Insurance, said Friday that it has sold its interest in the insurance business of Ghanaian holding company Enterprise Group. The interest was reportedly sold for $130 million but the Sanlam said the equity sale does not mean it was leaving the […]
Nigerian bourse to commence review of NSE 30, other sub-indices
Niyi JacobsJune 21, 2017
The Nigerian Stock Exchange ( NSE) will soon commence the review of the NSE 30 and the six sectoral indices of the exchange. The information, which was passed through an email sent to businessamlive.com Wednesday by the exchange stated that these indices are normally reviewed bi-annually (June and December) except for NSE Pension index that […]
Nigerian bourse: Big caps push market to close positive despite declining turnover
Niyi JacobsJune 20, 2017
The Nigerian equities market Tuesday sustained positive sentiments for five consecutive trading sessions as big caps helped the bourse’s index to appreciate by 0.7 percent to close at 34,375.60 basis points, as against +0.96% appreciation recorded previously. Its year-to-date (YTD) returns stood at +27.91%. Price appreciation in DANGCEM (+1.9%), NIGERIAN BREWERIES (+1.8%), INTBREW (+8.1%) […]
Nigeria’s equities market remains bullish as index rose by 0.96%
Niyi JacobsJune 19, 2017
The Nigerian Equities market sustained its bullish performance in Monday’s trading session as the benchmark index rose 0.96 percent to close at 34,135.10 points as against the previous close of 33,810.56, boosting year-to-date returns to 27.0%. Monday’s performance was driven by price appreciations in market heavyweights – DANGCEM (+2.4%), ETI (+7.1%), GUARANTY (+0.8%) and NIGERIAN […]