NGX suspends buying and selling of Transcorp shares as traders achieve N46bn — Each day Nigerian
The Nigerian Exchange Ltd., NGX, has suspended buying and selling within the shares of Transnational Corporation Plc (Transcorp), efficient Thursday.
The NGX, in its weekly report, mentioned that the suspension was needed to find out the shareholders entitled to obtain the agency’s reconstructed shares.
The Exchange mentioned that suspension was to forestall any buying and selling actions whereas the corporate’s registrars and Central Securities Clearing System (CSCS) reconcile their data for the itemizing of the reconstructed shares.
According to the regulator, the suspension motion follows a share capital discount undertaken by Transcorp.
In one other improvement, the NGX additionally lifted the suspension positioned on buying and selling of the shares of Lasaco Assurance Plc on Wednesday.
The alternate referred to its market bulletin dated July 8, which notified buying and selling license holders and the investing public in regards to the suspension.
It added that the event was in step with Rule 3.1 of the Rules for Filing of Accounts and Treatment of Default Filing.
According to the NGX, the rule mandates a second notification to the issuer in the event that they fail to file the related accounts by the top of the Cure Period.
The NGX additionally confirmed that Lasaco Assurance had submitted its Audited Financial Statements for the 12 months ended Dec. 31, 2023, together with all excellent monetary paperwork.
The NGX mentioned that, in view of the corporate’s submission of its 2023 AFS, and pursuant to Rule 3.3 of the Default Filing Rules, it was glad that the insurer’s accounts adjust to all its relevant guidelines.
Also, the NGX introduced that buying and selling within the rights situation of Nigerian Breweries Plc had been prolonged for one week, to now shut on Friday, Oct. 18.
The regulator mentioned that the brewer obtained the approval of the Securities and Exchange Commission (SEC) for the extension.
The Exchange mentioned: “We discuss with our market bulletin of Sept. 4, with reference quantity:
NGXREG/IRD/MB58/24/09/04 whereby the market was notified that buying and selling in Nigerian Breweries Plc’s Rights Issue of twenty-two,607,491,232 peculiar shares of fifty Kobo every at N26.50 per share.
“On the premise of 11 new peculiar shares for each current 5 peculiar shares held as on the shut of enterprise on July 12, 2024, opened on Monday, Sept. 2 2024.
“Consequently, trading in Nigerian Breweries’ Rights will now close on Oct. 18, 2024.”
On itemizing, NGX introduced that buying and selling within the September 2024 Issue of the Federal Government of Nigeria (FGN) Bonds was listed on the NGX on Friday.
The regulator additionally said that Flour Mills of Nigeria Plc’s N46 billion 5 – 12 months 22 per cent Series two Fixed Rate Senior Unsecured Bond due 2029 beneath the N200 billion Flour Mills of Nigeria Plc Bond Issuance Programme had been listed on the NGX on Tuesday.
On buying and selling, the NGX All-Share Index and market capitalisation appreciated by 0.09 per cent every to shut the week at 97,606.63 and N56.088 trillion, respectively.
This is in opposition to 97,520.54 and N56.039 trillion, respectively, posted within the earlier week.
Consequently, fairness traders gained a complete of N49 billion.
Similarly, all different indices completed greater apart from NGX Main Board, NGX AFR Bank Value, NGX Consumer Goods, NGX Lotus II and NGX Industrial Goods which depreciated 0.28, 1.12, 1.25 , 0.16 and 0.13 per cent respectively.
However, the NGX ASeM and NGX Sovereign Bond indices closed flat.
Meanwhile, a complete turnover of two.966 billion shares price N31.508 billion in 42,482 offers was traded this week by traders, in distinction 2.872 billion shares valued at N132.811 billion that exchanged fingers final week in 39,867 offers.
The Financial Services Industry measured by quantity led the exercise chart with 1.485 billion shares valued at N17.965 billion traded in 19,613 offers; thus contributing 50.05 and
57.02 per cent to the entire fairness turnover quantity and worth, respectively.
The Services Industry adopted with 1.108 billion shares price N775.258 million in 2,675 offers.
Third place was the Agriculture Industry, with a turnover of 93.904 million shares price N1.250 billion in 2,517 offers.
Trading within the high three equities specifically, Tantalizer Plc, Coronation Insurance Plc and Fidelity Bank Plc measured by quantity accounted for 1.625 billion shares price N3.908 billion in 1,814 offers.
These contributed 54.80 and 12.40 per cent to the entire fairness turnover quantity and worth respectively.
NAN
