Tuesday, November 20, 2018 / 08:00 AM / Proshare Research
Reference: Proshare MARKETS
The Nigerian Stock Exchange (NSE) has so far recorded new listings for eight quoted firms this year in the Exchange.
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
FLOURMILL, MORISON, WAPCO, UACN, HMARKINS 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.
A cursory review of the price performance of the stocks that listed supplementary shares showed that STANBIC, FLOURMILL, WAPCO, UACN 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.
NOTORE, MORISON and HMARKINS remained flat at N62.5, N0.55 and N0.35 per share respectively.
Table 1: Share Price
Source: NSE, Proshare
NB: Download PDF Here for Full Details on Table 2
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