The Nigerian Capital Market - 2014 in Retrospect - Dec '14 SSS Report

Proshare

Thursday, January 01, 2015 1.45PM / sss@proshareng.com

 

The Nigerian Capital Market experienced a myriad of highs and lows in 2014, as the market recorded negative performance (as the key indicator – NSE ASI depicts) with a Year to Date of (16.14%) as at December 31, 2014. However, Primary market activity which is part of the key parameters that help to measure capital market growth and efficiency improved in the year under reference.

The market witnessed more Rights Issue(s) during the year than PO/IPO’s as majority of the banks who were trying to shore up their Tier 1 capital opted for the former option while IPOs which had been completely dead in the last few years recorded a few, with SEPLAT IPO being the largest in 2014.

The re-capitalization plan envisaged for Capital Market Operators which had generated an ongoing controversy amongst market stakeholders recorded some headway despite the present global economic situation which necessitated “The Board of the Securities and Exchange Commission” to extend the compliance deadline from 31st December, 2014 to 30th September, 2015. So far, 262 CMOs have complied with the directive to date while more are expected to comply in 2015.

Discussion around the Nigerian Capital Market in 2014 cannot be completed without mentioning the change in engagement platforms as represented by the
Where to Trade; Who to Trade With” channel - the online trading portals which debuted in March, 2014.

Meristem Securities Plc took the lead while other dealing firms like Lead Capital, Morgan Capital, Capital Bancorp, Greenwich, UBA Capital etc equally came up with an online platform that has ultimately contributed to the changed landscape and opportunity for a new way different from the conventional way stocking trading was hitherto conducted.

We conducted a review of quoted companies IR pages as well as try to gauge their social media presence. The social media platforms were limited to Facebook and Twitter where we have more people and professionals.

In this edition of The Nigerian Capital Market Service Report, we continue the updates of our various data section and among other regular 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 December 2014 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.

Do feel free to share your opinions/observations and feedback with us vide
sss@proshareng.com

Thank you.

 

For: TheAnalyst Editorial Board

Reshu BAGGA

CEO, The Analyst

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