Exchange delists FGN Bond, as GTB changes name

Proshare

October 16, 2006/guardian

 

 

 

Following the maturity and redemption of the First Federal Government of Nigeria Bond 2006 on September 30, 2006, the Nigerian Stock Exchange last week delisted the bond from its daily official list.


Besides, the name of Guaranty Trust Bank Plc was formally changed to GT Bank on the advise of the board of directors, while there were also supplementary listings of 102.5 million shares outstanding in the name of 7-Up Bottling Company Plc following the bonus of one for four, and a total of 1.16 billion shares added to the shares outstanding in the name of Niger Insurance Plc following the conclusion of the rights issue.


Also in the Over the Counter Market (OTC), a turnover of 17.3 million shares worth N17.81 billion was recorded in 69 deals last week, down from 44.6 million shares worth N45.42 billion exchanged in 59 deals in the preceding week.


Four equities were equally adjusted for dividend and/or bonus as recommended by the director.

For instance, 7-Up Bottling Company Plc was adjusted for dividend of N1.25 per share and bonus of one for four, while Nigerian German Chemicals Plc was adjusted for dividend of 35 kobo per share.

First City Monument Bank Plc was also adjusted for dividend of 13 kobo per share, while UNIC Insurance Plc was adjusted for a dividend of 11 kobo per share.

Meanwhile, Zenith Bank Plc, Julius Berger Nigeria Plc and PZ Industries Plc presented their scorecards to the Nigerian Stock Exchange last week.

By the results, Zenith Bank Plc recorded an after tax profit of N4.23 billion in the first quarter ended September 30, 2006, over N2.44 billion in 2004, on a gross earnings, which rose from N12.42 billion to N19.7 billion.

PZ Industries also recorded an after tax profit of N507.3 million in the first quarter ended August 31, 2006 over N494.1 million in 2005, on a turnover, which rose from N8.8 billion to N11.41 billion.

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