Monday, June 01, 2015 10.05AM / firstname.lastname@example.org
As we await the inauguration of a new government at the centre on May 29th, key benchmark indicator, NSE ASI, closed with -1.15% losses in the month of May as market stakeholders’ look up to the policy of the incoming administration.
Considering the fact that Nigerian market is dominated by foreign investors, a top stakeholder is of the view that the foreign exchange policy of the incoming government can lead to renewed interest in the market.
Primary market activities in the month remain unimpressive as no issuer or operator came out with any IPO, Rights Issue or public offer while a few banks like Sterling Bank and Skye Bank Plc have reiterated their intention to raise Tier 2 and Tier Capitals for expansion targets and Capital Adequacy Ratio (CAR) purposes respectively.
Key activities from the capital market regulators during this period of review can be viewed from the angle of investors’ protection. The Securities & Exchange Commission suspended the management of BGL Group Plc and and all its sponsored individuals after its investigation into the various complaints received from investors against subsidiaries of the Group while the NSE released guidelines for investors to transfer their shares from a suspended/inactive/expelled stockbroking firm to an active firm.
Furthermore, the appointment of an interim management board for IEI Plc by NAICOM was also communicated to the market by the company via NSE. This became necessary following an allegation laid against the board from one of the core investors of the energy insurance firm.
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 May 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.
Do feel free to share your opinions/observations and feedback with us vide email@example.com
Kindly DOWNLOAD Report Here
For: Analyst Editorial Board
CEO, The Analyst