Nigerian Stock Exchange\'s market capitalisation last week recorded a boost with the supplementary listing of 294.98 million shares in the name of Guinness Nigeria Plc, following the bonus of one new shares for every four already held by shareholders.
In another development three equities including that of Guinness Nigeria Plc were adjusted for dividend and/or bonus as recommended by the directors.
For instance, Guinness Nigeria Plc was adjusted for dividend of N4 per share and bonus of one for four, while Neimeth International Pharmaceutical Plc was adjusted of 10 kobo per share. Cutix Plc, an emerging market sub-sector company was also adjusted for a dividend of 10 kobo per share.
The prices of Cement Company of Northern Nigeria Plc (CCNN) and Dunlop Nigeria Plc were also placed on technical suspension following the receipt of applications from both companies for supplementary issues.
At last week\'s trading session, a turnover of 1.93 billion shares worth N14.6 billion changed hands, up from 766.1 million shares valued at N13.32 billion exchanged the preceding week.
The insurance sub-sector was the most active in volume terms last week with 1.32 billion shares worth N2.43 billion exchanged in 504 deals, largely driven by activity in the shares of Great Nigerian Insurance Plc, which accounted for 1.3 billion shares, representing 98.2 per cent of the sub-sector\'s turnover and 66.8 per cent of the total volume of transactions recorded during the week.
The banking sub-sector followed on the week\'s activity chart with a turnover of 448.25 million shares valued at N5.8 billion.
The All-Share index dropped by 1.94 per cent to close last Friday at 32,856.94 points, while market capitalisation of listed equities closed lower at N4.12 trillion, due mainly to a decline in prices of the highly capitalised stocks. - guardian