Independent Voice Setting the Market Straight – Sep’ 14 SSS Report

Proshare

Thursday, October 09, 2014 9.40AM / sss@proshareng.com

 

Despite the bearish trend witnessed in the Nigerian Capital Market for a couple of weeks now, minimal but steady improvement have been observed both in primary market activities as well as other aspects of the market; as new products are been launched while the regulatory sect continue to uphold market standards.

 

In the course of the month ended September 2014, new and existing quoted companies engaged the investing community through capital raising on expansion grounds via Initial Public Offerings and the Rights Issue windows. Specifically, Transcorp Hotels Plc, a subsidiary of Transcorp Plc, opened its offer to raise N8bn with 800,000,000 ordinary shares at N10 per share, while Access Bank Plc, one of the leading financial institutions in the country, raised N68bn by way of Rights Issue.

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The proposed Access Bank Plc Rights Issue generated serious heat and argument in the market as the bank approached The Exchange for its shares to be placed on technical suspension for an extensive period of four (4) months ahead of its Rights Issue. A moved Proshare NG honorably spoke against.

 

As highlighted and predicted by Proshare NG, the suspension has now been reversed and trading has resumed on the stock of Access Bank while the suit against SEC on the directive to Registrars on Unclaimed Dividend also continue to gain traction in the market.

 

Meanwhile, Market operators continue to initiate investor friendly products as Afrinvest West Africa Ltd launched its online trading platform – AFRINVESTOR, while Lead Capital Plc will officially launch the mobile version of its LeadTrader online trading platform. In addition, Proshare NG in bid to continue its support to the Nigerian Capital Market launched TheAnalyst2.0 - the first ever customizable financial website having the feature to disseminate real time stock feeds from the NSE.

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In this edition of The Nigerian Capital Market Service Report, we incorporate new market related information such as New Issues in the market 2012, delisted securities 2012; Companies Slated for Delisting/Restructuring; Information on companies with Free Float Deficiencies and defaults filings and penalties.

 

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 September 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: Analyst Editorial Board

 

Reshu BAGGA

CEO, The Analyst

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