FO Moves Up By 9.92%; Market CAP Gains N4.04bn


Thursday, December 27, 2018 06:09 PM /Proshare Research


Market sentiment towards the stock of FO was positive at the end of trading today as the share price moved up by a tick size of 9.92% to close at N34.35k from the previous price of N31.25k. 

In terms of Market CAP, FO gained N4.04bn to increase its total Market CAP to N44.74bn from N40.70bn. 

This upwards movement in share price followed the announcement by the oil and gas firm that its majority shareholder has reached an agreement to divest his full 75% direct and indirect shareholding in the company’s downstream business.


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