38 out of 47 Stocks Listed Between 2008 and 2016 Trade Below Their Listing Prices


Thursday, December 29, 2016 2:26 PM / Proshare Markets

The Nigerian IPO market is yet to get out of its doldrums considering the volume of IPOs witnessed in the market between 2006 and 2008.

Activities within this market had dropped significantly between 2009 and 2012 while market witnessed a few number of IPOs between 2013 and 2015.

Interswitch Limited had earlier planned an IPO for 2016 but was later suspended due to FX Scarcity and shortage.

A review of the performance of 47 stocks listed between 2008 and now reveals that seven (7) out of such stocks currently trade above their listing prices while thirty-eight (38) trades below their listing prices. The remaining two (2) remained flat.

UCAP and AFRIPRUD led the gainers with +143.10% and +88.68% respectively while CAVERTON and DAARCOMM led otherwise with -90.53% and -90.48% losses each.

Financial services dominate the list of such stocks with seventeen (17) stocks. Services sector follows closely with seven (7) stocks and ICT with six (6) stocks. Consumer and Industrial goods have four (4) each while Construction/Real Estate, Oil & Gas, Healthcare and Agriculture have three (3), three (3), two (2) and one (1) respectively.

However, IAINSURE, STARCOMMS, BAGCO and PNG represent stocks which had been delisted among the stocks listed from 2008 till date.

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