NSE members approve demutualisation resolutions
Businessam StaffMarch 4, 2020
Members of the Nigerian Stock Exchange on Tuesday passed requisite resolutions for the demutualisation of the exchange at a court ordered meeting and an extraordinary general meeting. At the court ordered meeting, members voted and assented to the re-registration of the exchange as Nigerian Exchange Group Plc; the transfer of its securities exchange licence and […]
DMO opens March savings bond offer
Businessam StaffMarch 3, 2020
The Debt Management Office (DMO) yesterday opened offer for the Federal Government of Nigeria’s savings bond for March 2020 with yields lower than what it offered in February. The offer circular showed that it is offering the 2-year FGN savings bond due March11, 2022, at 4.131 per cent, while the 3-year FGN savings bond due […]
Investors lose N208bn as equities opens week on red
Omobayo AzeezMarch 3, 2020
By Omobayo Azeez Investors in Nigeria are still counting their losses at the stock market as the equities segment of the market continued to depreciate in value following a loss of N208 billion recorded on Monday. The loss is blamed on the raging impact of coronavirus that has left the global equities market […]
IHS seeks $7bn from US IPO
Omobayo AzeezFebruary 27, 2020
By Omobayo Azeez with agency report Telecoms tower company IHS has hired banks to oversee what may be the biggest initial public offering (IPO) of an African company in the US, Bloomberg reported citing sources with knowledge of the matter. IHS has selected Citigroup and JPMorgan Chase as global coordinators for a listing […]
Stock market extends downtrend, posts N31bn loss
Businessam StaffFebruary 27, 2020
Transactions in the Nigerian equity market on Wednesday closed negative, as losing streak extended to four consecutive trading days, following sell-off on some high-valued stocks. Consequently, the market breadth closed negative, recording 11 gainers against 16 losers. Meanwhile, the All-Share Index dipped by 58.72 basis points or 0.22 per cent to close at 26,974.38 index […]
Protect your investments, SEC urges Nigerian soldiers
Omobayo AzeezFebruary 21, 2020
By Omobayo Azeez The Securities and Exchange Commission (SEC) has urged officers and men of the Nigerian Army who have already invested in the capital market to explore all available channels to protect their investments. Mary Uduk, the acting director general of the SEC, made this statement in Lagos during a visit to the […]
11 Plc acquires Lagos Continental Hotel from AMCON
Businessam StaffDecember 24, 2019
11 Plc, formerly known as Mobil Oil Nigeria Plc, says it has finalised discussions with the Asset Management Company of Nigeria to acquire the Lagos Continental Hotel. The company said in a statement filed at the Nigerian Stock Exchange on Monday that the acquisition was subject to terms and conditions between both parties. 11 Plc, […]
SEC cancels bank signature verification for e-dividend exercise
Businessam StaffNovember 26, 2019
The Securities and Exchange Commission (SEC) has directed that registrars discontinue the practice of requesting for confirmation of bank signature during the e-dividend mandate management System (e-DMMS) process. Mary Uduk, the acting director-general, SEC, disclosed this while addressing the press on the third quarter Capital Market Committee meeting in Lagos on Friday. She stated that […]
Why NSE delist Dangote Flour Mills
Businessam StaffNovember 21, 2019
By Omobayo Azeez The Nigerian Stock Exchange (NSE) has delisted an hitherto publicly quoted company on the nation’s bourse, Dangote Flour Mills (DFM) Plc. The delisting marked the formal conclusion of the acquisition of DFM by Crown Flour Mills, a subsidiary of Olam International Limited. As part of the acquisition agreement with Olam, DFM must […]
SEC chairman calls for cooperation among stakeholders
Businessam StaffNovember 21, 2019
Olufemi Lijadu, the chairman of the board of the Securities and Exchange Commission (SEC) on Wednesday called for more cooperation among stakeholders for the overall interest of the capital market and the economy generally. Speaking at a meeting between the board and stakeholders in the capital market in Lagos, the SEC board Chairman said […]