Update: Huge Volume Traded on WEMABANK Shares Yesterday Was A Cross Deal

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Tuesday, June 18,  2019  01:32 PM / Proshare Research  / Header Image Credit: Buzz Nigeria

 

Latest information at our disposal on the huge volume transaction witnessed on WEMABANK shares yesterday after the close of trading on NSE have shed more light on the unusual trading statistics. 

According to a reliable source at the bank, it was revealed that the transaction was an internal cross deal between existing shareholders of the bank which is meant to help properly account for ownership. 

It will be recalled that we reported yesterday of a total volume of 2.69bn units of shares of Wema Bank Plc valued at N1.71bn was consummated at the close of trading. 

This represents 94.10% of the total market volumes of 2.84bn and while the volume traded also represents 7% of WEMABANK’s total shares outstanding put at 38.57bn shares. 

In a similar pattern of market trading that occurred on Thursday March 28, 2019 which was reported by Proshare Research, a total volume of 1.70bn units of shares of Wema Bank Plc valued at N1.28bn was traded.  

This represents 88.81% of the total market volumes of 1.27bn while the volume traded represents 4.42% of WEMABANK’s total shares outstanding while the value of the shares

 

Visit Wema Bank Plc IR Page in Proshare MARKETS

 

Graph – One Year Share Price Movement

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Table – Q1 2019 Results

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