BUSINESS
NGX Weekly Report: Cadbury lists 402.1m additional shares, investors lose N54bn
Cadbury Nigeria Plc (Cadbury) listed additional 402,082,657 ordinary shares of 50 Kobo each per share on the Daily Official list of Nigerian Exchange Ltd. (NGX) in the concluded week.A weekly report of the NGX made available to newsmen in Lagos stated that the Cadbury additional shares were listed during the week.
The NGX explained that the additional shares listed on NGX arose from Cadbury’s conversion of N7,036,446,501.26 intercompany loan to equity.
“With this listing of the additional 402,082,657 ordinary shares, the total issued and fully paid up shares of Cadbury has now increased from 1,878,201,962 to 2,280,284,619
ordinary shares of 50 kobo each,” the regulator said.
Also in the course the week under review, the NGX suspended trading in the shares of Arbico Plc on Friday.
The Exchange said the suspension was necessary to prevent trading in the shares of the company in preparation for the delisting of the securities of the company in line with the approval obtained from NGX.
Meanwhile, the April 2024 Issue of the Federal Government of Nigeria (FGN) Savings Bonds was listed on the NGX on Monday.
In the course of trading for the week, trade turnover settled 15.8 per cent lower than the previous session.
Specifically, investors traded a total of 1.652 billion shares worth N42.677 billion in 38,123 deals this week on the floor of the Exchange, in contrast to 2.187 billion shares valued at N50.667 billion that exchanged hands last week in 45,277 deals.
Consequently, the NGX All-Share Index which opened the week at 98,233.76 lost 0.11 per cent to close at 98,125.73.
The market capitalisation also depreciated by 0.10 per cent or N54 billion to close the week at N55.508 trillion, as against N55.562 trillion posted in the previous week.
Similarly, all other indices finished lower with the exception NGX Main Board, NGX Lotus II, NGX Industrial Goods and NGX Pension Broad which appreciated by 0.97, 0.58, 0.01 and 0.12 per cent respectively, while the NGX ASeM and NGX Sovereign Bond indices closed flat.
Meanwhile, the Financial Services Industry measured by volume led the activity chart with 979.479 million shares valued at N16.647 billion traded in 20,708 deals.
This contributed 59.30 per cent and 39.01 per cent to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 239.825 million shares worth N2.879 billion in 2,178 deals.
The third place was the Consumer Goods Industry, with a turnover of 148.685 million shares worth N3.525 billion in 4,757 deals.
Trading in the top three equities namely Custodian Investment Plc, Guaranty Trust Holding Company Plc and Access Holdings Plc measured by volume accounted for 500.343 million shares worth N11.768 billion in 6,551 deals.
This contributed 30.29 per cent and 27.57 per cent to the total equity turnover volume and value respectively.
Also, 28 equities appreciated in price during the week lower than 40 equities in the previous week.
51 equities depreciated in price higher than 37 in the previous week, while 76 equities remained unchanged, lower than 77 recorded in the previous week.
On the losers’ table, PZ Cussons Nigeria led by 22.16 per cent to close at N21.60, NEM Insurance followed by 18.36 per cent to close at N8.45 per cent per share.
Eterna Plc lost 18.32 per cent to close at N11.15, United Bank of Africa(UBA) shed 17.23 per cent to close at N21.85 and The Initiates Plc dropped N15.22 per cent to close at N1.95 per share.
Conversely, International Energy Insurance led the gainers’ table by 11.49 per cent to close at N1.65, McNichols Plc trailed by 9.89 per cent to close at one Naira per share.
Custodian Investment Plc rose by 9.68 per cent to close at N10.20, Julius Berger advanced by 9.53 per cent to close at N79.30, while Airtel Africa Plc gained 8.97 per cent to close at N2,150 per share.
