Author Topic: NSE DELISTS NINE MORE COMPANIES  (Read 1268 times)

Offline furtune

  • Honorable
  • *****
  • Posts: 76,684
  • Country: ng
  • Gender: Male
  • It is good to be good!
    • View Profile
NSE DELISTS NINE MORE COMPANIES
« on: October 07, 2008, 03:01:18 PM »
NSE delists nine more companies

The Nigerian Stock Exchange has delisted nine more companies from the official list of the Nigerian Stock Exchange.

The move, which was announced by the NSE to market operators on Monday, was confirmed to our correspondent by the Managing Director, Lambeth Trust and Investment Limited, Mr. David Adonri.

The companies delisted were; Aviation Development Company Plc, Grommac Industries Plc, Intra Motors Plc, Onwuka Hi-Tek Industries Plc, Nigerian Lamps Industries Plc, Niyamco Plc, Security Assurance Plc, Sun Insurance Plc and Nigerian Textiles Mills Plc.

According to Adonri, “The companies were delisted by the council of the NSE for their failure to meet the post-listing requirements of the stock exchange.”

This brings the total number of companies delisted by the NSE to 19.

Meanwhile, Spring Bank Plc has emerged the most active stock in terms of volume traded for the month of August, the monthly report from the NSE has shown.

According to the report, released to our correspondent on Monday, the bank traded a total of 4.489 billion equities during the month.

Investment and Allied Assurance Plc followed with a total volume of 4.099 billion, while Afribank Plc recorded a turnover of 650 million equities in August.

Other companies in the top 10 category, included First Bank of Nigeria Plc with a volume of 540 million; Fidelity Bank Plc, 538 million shares; and First City Monument Bank Plc, 490 million.

According to the report, “A turnover of 17.4 billion shares, worth N169.64bn was recorded in 249,937 deals in the review month, compared with 19.97 billion equities, valued at N190.75bn exchanged in July, in 357,000 transactions.

“Consequently, in eight months, total turnover was 159 billion units, valued at N2.1tn, exchanged by investors in 2,894,475 deals. In the comparable period of 2007, total transactions were 90.4 billion shares, worth N1.34tn in 1,696,536 deals,” it said.

The report showed that the market value of the 319 listed securities closed at N13.04tn, representing a decline by 6.4 per cent from N13.93tn in the preceding month.

It said that six stocks from the banking sub-sector topped the 20 most-capitalised stocks, table.

FBN led the chart with a volume of 24.86 billion shares, worth N797bn.

Zenith Bank Plc and Intercontinental Bank Plc followed with a volume of N16.74bn and N17.97bn, valued at N698m and N520m respectively.

United Bank for Africa Plc, Union Bank Plc and Oceanic Bank Plc also recorded volumes of 17.25 billion, 11.58 billion and 22.22 billion shares, worth N495m, N486m and N455m respectively.

In the Over-the-Counter Bond market, the report stated that 699.6 million units, worth N691.85bn were exchanged in 6,183 deals in August 2008, compared with 1.1 billion shares, valued at N1.08bn, traded the previous month in 9,220 transactions.

The report stated that the most active bond, in terms of turnover, was the 5th FGN Bond 2018 Series 2, which traded 63.9 million units, valued at N59.51bn in 463 deals.

Advertisements

CLICK HERE TO MAKE NEW FRIENDS ON NBF SOCIAL NETWORKYou Need to Make 50 Posts For Your Links To Appear In your Signature
YOU DON'T HAVE TO SPAM TO INCREASE YOUR POSTS COUNT. START BY WELCOMING NEW MEMBERS AND HELPING OTHERS. SPAMMING WILL ONLY GET YOU BAN

Nigerian Best Forum . NBF

NSE DELISTS NINE MORE COMPANIES
« on: October 07, 2008, 03:01:18 PM »

Enter Your Email Below For Daily Jobs Updates, It's Free

100% Free


 

ads

Enter Your Email Below For Daily Jobs Updates, It's Free

100% Free