8 Stocks Made Fresh Listings Worth N341.59bn In 2018

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Tuesday, November 20, 2018 / 08:00 AM / Proshare Research 

 

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Preamble

The Nigerian Stock Exchange (NSE) has so far recorded new listings for eight quoted firms this year in the Exchange. 

The listings amounting to N341.59 billion were listed by STANBIC, NOTORE, FLOURMILL, MORISON, WAPCO, UACN, HMARKINS and UBN

STANBIC listed a supplementary 64,208,713 units of bonus shares worth N3.21 billion. Despite the new listing, STANBIC gained just 0.20 percent, while the equity’s volume traded rose slightly from 0.18 million units of shares to 1.43 million units on August 10, 2018.

 

Listing by Introduction

NOTORE, which is the first and only stock listed on the NSE by introduction so far this year, issued 1,612,066,200 ordinary shares of 50 Kobo each par value at N62.50, amounting to N100.75 billion. The listing of pushed up the market capitalisation byN158 billion at the close of from N13.26 trillion to N13.39 trillion.

 

Supplementary Listing (s) Via Rights Issue

FLOURMILLMORISONWAPCOUACNHMARKINS and UBN listed through Right Issues. 

FLOURMILL listed 1,476,142,418 ordinary shares of 50 kobo each at N27 per share, this is valued at N39.86 billion; MORISON listed 836,983,125 ordinary shares of 50 kobo each at N0.60 per share worth N502 million; WAPCO listed 3,097,653,023 ordinary shares of 50 kobo each at N42.50 per Share worth N131.65 billion. 

UACN raised N15.37 billion by listing 960,432,193 ordinary shares of N0.50 each at N16 per share. HMARKINS listed 1,000,000,000 ordinary shares of N0.50 each at N0.50 per share worth N500 million, while UBN raised N49.75 billion by listing 12,133,646,995 ordinary shares of 50 kobo each at N4.10 per share.


 Performance Review

A cursory review of  the price performance of the stocks that listed supplementary shares showed that STANBICFLOURMILLWAPCOUACN and UBN all depreciated between when those stocks were listed and now.

STANBIC dropped 0.20 percent to close at N50 on Wednesday, November 21, 2018,FLOURMILL fell 47.16 percent to close at N18.60 per share; WAPCO plunged by 68.12 percent to close at N15 per share; UACN shed 44.28 percent; while UBN went down by 40.24 percent.

NOTOREMORISON and HMARKINS remained flat at N62.5, N0.55 and N0.35 per share respectively.

 

Table 1: Share Price

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Source: NSE, Proshare Research

NB: Download PDF Here for Full Details on Table 2


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