Wednesday, July 01, 2015 10.05AM / email@example.com
Market performance in the month of June closed red as NSE ASI records -2.49% losses to extend the bearish trend witnessed in previous month as YTD performance also closed red in with -3.46% as H1’15 ends while market and key stakeholders still awaits economic direction from the new administration.
Activities in the primary market segment remain relatively low generally as Stanbic IBTC Holdings Plc notified the market of its proposed Rights Issue of 800,000,000 Ordinary Shares of 50k each at N25.50 per share on the basis of 2 new ordinary shares for every 25 ordinary shares held while the IPO market is yet to witness any deal.
Market Regulators continue their investors’ protection and market development functions as the Nigerian Stock Exchange released two (2) key circulars to its members. One bothers on the online trading platforms which tends to guide operators and help NSE to effectively monitor and regulate the online trading process while the other bothers on SEC’s Complaint Management Framework; stressing compliance.
The top capital market regulator, SEC, on its part stressed its commitment to the deadline earlier fixed for the re-capitalization of CMOs while it also issued a directive to all capital market registrars to return all unclaimed dividend of 15 months and above to the paying companies.
It is pertinent to state that Proshare NG sued SEC during the tenure of the immediate past Director-General, Ms. Arunma Oteh, with a court injunction filed against the directive while the commission in late January 2015 hit the market with its new rule stating that all unclaimed dividends of 12 months should be returned to paying companies.
In this edition of The Nigerian Capital Market Service Report, we continued the updates of our various data section with latest updates required in the report. This is to ensure that we deliver a comprehensive capital market service report that helps cover and track innovations, developments as well as service issues in the market effectively.
In all, the June 2015 SSS Quality Report is a snapshot and aide memoire of these developments as we keep tracking milestones that the investing public should be aware of.
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1. Service levels in Nigeria’s Capital Market is improving – May’ 14 SSS Report
2. Service Delivery Propelled by Innovations in the NCM – Jun’ 14 SSS Report
3. Nigerian Capital Market Witnesses Minimal Market Activities – Jul’ 14 SSS Report
4. Continuous improvement in the market sustained amidst regulatory breeze – Aug’ 14 SSS Report
5. Independent Voice Setting the Market Straight- Sep’14 SSS Report
6. Unceasing Slow Progress Despite Negative Sentiment – Oct’ 14 SSS Report
7. The Imminent Re-Capitalization, Master Plan and the Emerging Structure – Nov ’14 SSS Report
8. The Nigerian Capital Market – 2014 in Retrospect – Dec ‘14 SSS Report
9. Slow Progress Amidst Economic Uncertainties - Jan '15 SSS Report
10. Regulatory Anticipation and Action Towards Improvement – Feb ‘15 SSS Report
11. Market Performance grows in March on pre-election rally– Mar ‘15 SSS Report
12. Positive Trend Continues After General Elections – April ‘15 SSS Report
13. Market Records Low Activities; Optimistic as New Government Takes Over – May ‘15 SSS Report