August 28, 2008
NSE to unveil new Data Centre soon…
The Nigerian Stock Exchange (NSE) is to unveil its new Data centre in the next few weeks as arrangements are in top gear to conclude the centre. The Director-General of the NSE, Prof. Okereke-Onyiuke has said that the Stock Exchange has acquired three new Servers to accommodate Stock broking firms who wish to have more than three Trading Booths in their offices. According to her the new Data Centre would help to enhance the servicing of various new branches of the NSE to be opened in various states of the federation
Mama Cass to raise N1.4bn...
Mama Cass Restaurants Limited has commenced a private placement to raise N1.4 billion. The company is offering to select investors 400 million Ordinary Shares of 50 Kobo each at N3.50 Kobo per share. The minimum number of units applicable is 100,000 units and multiples of 10,000 units thereafter. The Private Placement is expected to close by September 19, 2008.
August 27, 2008
FG moves to stem bearish trend...
A Presidential Advisory Team was on Tuesday constituted by the Federal Government to find ways to stabilise the Nigerian capital market and reverse the current prolonged bearish trend which has seen investors losing close to N3.5 trillion.
One of the decisions taken at the meeting is a review of the maximum downward limit on price movement which has been reduced to one percent from the original five percent. Other decisions taken include:
The reduction of applicable fees by the Nigerian Stock Exchange and all other capital market operators.
The NSE is to reduce its fees by 50 percent. The Office of the Attorney-General of the Federation was directed to issue an exemption to the provisions of the relevant sections of the Companies and Allied Matters Act, 1990, on share buy-backs to permit quoted companies to buy back up to 20 per cent of their shares subject to the approval of SEC
New listings on the NSE to be suspended till market stabilises.
August 26, 2008
CBN abandons uniorm year end for banks...
The Central Bank of Nigeria has abandoned its proposed uniform year end policy for all banks. The CBN made this information known to all banks in a circular on Monday. According to the circular “Each bank and discount house is now at liberty to adopt its own accounting year end as it deems appropriate and inform the CBN accordingly.”
August 20, 2008
ETI to raise $2.5 billion…
ETI has concluded plans for a cross-border offer to raise about N295 billion. The offer shall be spread across three African markets: Nigeria, Ghana and Abidjan. The company is offering by rights issue 3,763,759,981 shares to existing shareholders at $0.27 per share at the ratio of five new shares for every nine held as at August 18th 2008, while 5,116,499,328 shares are being offered to the general public at a rate of $0.29 per share.
Unic Assurance releases result…
Unic Assurance Plc has posted a turnover of N1.9 billion naira for the year ended December 31st, 2007. Its profit after tax rose from N59 million in 2006 to N430 million in 2007. The company is also declaring a dividend payment of 5 kobo to its shareholders.
August 08, 2008
AP to hit the market with hybrid offer...
African Petroleum is set to hit the market with a N110bn hybrid offer. The company is offering 199,070,721 ordinary shares of 50 kobo each at N250 per share by way of public offering and 262,929,279 ordinary shares of 50 kobo each at N230 per share for its rights issue.
The offer is to open on August 18, 2008 and close by September 24, 2008.
July 22, 2008
CBN shifts uniform bank year end...
The Central Bank of Nigeria has shifted the planned uniform year end for banks operating in Nigeria from December 2008 till December 2009.
Union Bank Plc on Technical Suspension...
Union Bank PLC has been placed on technical suspension following the application from its directors for a hybrid offer.
The hybrid offer consists of Offer for Rights of 1.1 billion units of at N35.00 and a Public Offer of 7.3 billion units at N36.00 respectively. The price was frozen at N42.00
July 17, 2008
Big Treat declares profit of N353 million…
Big treat, one of the fast food chains in Nigeria has posted a turnover of over N3billion naira. The company’s profit after tax stands at N353 million as against the N131 million it record for the same period last year. The company is also proposing a dividend payment of 10 kobo per share.
July 11, 2008
Eterna Oil & Gas Plc on technical suspension
Eterna Oil & Gas Plc was placed on Technical Suspension @ N31.16 upon receipt of its application to engage in a hybrid offer of RIGHTS for N26.90 kobo and A PUBLIC OFFER for N28.90 kobo.
July 02, 2008
Chevron to pay dividend
The board and management of Chevron Nigeria Plc have approved a dividend payment of N7.50 for its shareholders.
ETI on technical suspension
ETI was placed on full suspension on Tuesday, in order to allow for the full implementation of the 5 for 1 bonus declared by the bank. The technical suspension would be for three days in order to allow the Central Securities Clearing System reconcile shareholders’ accounts.
June 24, 2008
Tantalisers lists 2.9bn shares...
One of the foremost fast food chain outlet lets in Nigeria, Tantalisers Plc has listed a total of ordinary 2,950,000,000 shares on the floor of the Nigerian Stock Exchabge. The company's shares were listed at N3.50k each.
June 16, 2008
Market down trend due to technical hitch…
The Director General, Nigeria Stock Exchange (NSE) Prof. Ndi Okereke-Onyiuke has said that the downward trend in the nation's capital market was due to a technical hitch on the trading engine.
According to her, the hitch was caused by a disengaged nut which connects the trading engine to that of Central Security Clearing System, which gave opportunity for indiscriminate sale of stocks, even below the expected prices.
NSL's N12.4b IPO to open July 14th…
The National Sports Lottery Initial Public offering which was to open today June 16th 2008, will now open on July 14th 2008.
According to the Chief Executive Officer of NSL Dr. Odunlami Kola-Daisi, this new date is to allow for the IPO to be conducted in a unique way. An equal number of shares will be made available in equal number to each of the 36 states, including the Federal Capital Territory. This arrangement according to Dr. Odunlami, is to enable an equal opportunity of participation to all Nigerians.
NSL is offering for sale a total of 800,000,000 units at N15.50 per share, in effect this will translate to an average of 21,621,621 units being made available to each state. In completing their forms applicants are to quote their states reference codes on their forms.
The IPO will open On July 14th 2008 and close by August 20th 2008.
June 05, 2008
NBC releases result...
|
NIGERIAN BOTTLING COMPANY PLC UNAUDITED Q1 RESULT FOR THE PERIOD ENDED 31 MAR 2008 |
|
|
2008 |
2007 |
CHANGE |
% CHANGE |
|
|
N'b |
N'b |
N'b |
% |
|
TURNOVER |
19.400 |
17.600 |
1.800 |
10.23 |
|
PROFIT BEFORE TAX |
1.400 |
1.300 |
0.100 |
7.69 |
|
TAXATION |
0.313 |
0.288 |
-0.025 |
-8.68 |
|
PROFIT AFTER TAX |
1.164 |
1.042 |
0.122 |
11.71 |
BIG TREAT releases result...
|
BIG TREAT PLC UNAUDITED Q1 RESULT FOR THE PERIOD ENDED 31 MAR 2008 |
|
|
2008 |
2007 |
CHANGE |
% CHANGE |
|
|
N'b |
N'b |
N'b |
% |
|
TURNOVER |
0.790 |
0.634 |
0.156 |
24.61 |
|
PROFIT BEFORE TAX |
0.071 |
0.055 |
0.016 |
29.09 |
|
TAXATION |
0.023 |
0.065 |
0.042 |
64.62 |
|
PROFIT AFTER TAX |
0.049 |
0.010 |
0.039 |
390.00 |
June 04, 2008
Fidson to get listed on NSE... The shares of Fidson Healthcare Plc, a pharmaceutical outfit will get listed today on the floor of the Nigerian Stock Exchange. The company will list a total of 1.5bn ordinary shares of 50koshare.