Slow Progress Amidst Economic Uncertainties – Jan ‘15 SSS Report

Proshare

Monday, February 02, 2015 10.05AM / sss@proshareng.com

 

 

The Nigerian Stock Market started the year 2015 on a negative note as a result of the dwindling oil price as well as the effect of naira devaluation due to the pressure and high demand for the dollar, coupled with global economy challenges witnessed in recent times.

 

Despite the current standpoint, the market has witnessed a few primary market activities at the beginning of the year, as some are currently ongoing. Of these primary market activities are one IPO and a few Rights Issues.

 

Haldane McCall Real Estate Investment Trust (HMK REIT) IPO of 2,600,000,000 units at N5.15 each came to an end in the middle of January, 2015, while UBA Plc, Sovereign Trust Insurance and Access bank Plc Rights Issues which have in the pipeline since last year are ongoing. In addition, Oando Plc ended its Rights Issue on January 28, 2015, after notifying the market of changes to the terms of the rights Issue. The issue was eventually sold at N16.50 per share, while the ordinary shares issued increased to 2,956,353,579 units.

 

As market regulators begin the implementation of the master plan which will enable them deepen the market with more products like Islamic Bond (Sukuk), capital market operators and other stakeholders in the financial service sector have also began to look at how the capital market can help finance the 2015 federal budget, following a day dialogue held on January 29, 2015 which is the starting point of these initiative.

 

As stated by the Exchange, key initiatives that are supposed to shape the year 2015 will be centered on Competitive Fee Structure, NDRs, Data Center, Premium Board, Growth Board, Africa Growth Company Listings Drive, Sponsored Access, World-Class Surveillance Program and Rules Portal while the self-regulatory body is also looking at setting minimum operating standards for dealing firms in order to improve market confidence and make them world class market operators.

 

Also as part of its contribution to market progress, Proshare NG the operator of TheAnalystNG and WebTV has launched Proshare 7.0, an upgraded version of its website with flexibility and additional resources.

 

In this edition of The Nigerian Capital Market Service Report, we continued the updates of our various data section with latest updates in the New Year 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 January 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 sss@proshareng.com

 

Thank you.

 

 

For: Analyst Editorial Board

Reshu BAGGA

CEO, The Analyst

Kindly DOWNLOAD Report Here 

Related NEWS

1.    Service levels in Nigeria’s Capital Market is improving – May’ 14 SSS Report

2.    Service Delivery Propelled by Innovations in the NCM – Jun’ 14 SSS Report

3.    Nigerian Capital Market Witnesses Minimal Market Activities – Jul’ 14 SSS Report

4.   Continuous improvement in the market sustained amidst regulatory breeze – Aug’ 14 SSS Report

5.    Independent Voice Setting the Market Straight- Sep’14 SSS Report

6.    Unceasing Slow Progress Despite Negative Sentiment – Oct’ 14 SSS Report

7.   The Imminent Re-Capitalization, Master Plan and the Emerging Structure – Nov ’14 SSS Report

8. The Nigerian Capital Market – 2014 in Retrospect – Dec ‘14 SSS Report

 

READ MORE:
Related News
SCROLL TO TOP