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JenneteUgo Anya
- August 6, 2024
NGX Loses N93bn As Global Equity Markets Fall
The Nigerian equity market experienced a significant loss on Monday, shedding N93 billion, reflecting a broader decline observed in global markets. The Nigerian Exchange (NGX) saw its All-Share Index and market capitalisation fall by 0.17 percent, closing at 97,582.41 points and N55.40 trillion, respectively. Monday’s trading session was marked by 9,738 transactions, totalling N6.217 billion, […]
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- August 6, 2024
SEC Says Bank Recapitalisation Is Key To Nigeria’s Trillion-dollar Economy
Director- General (DG) of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has said the bank recapitalisation is for Nigeria’s aspiration to achieve a trillion-dollar economy. Speaking at a recent forum, on the ongoing bank recapitalisation efforts in Abuja, Dr. Agama outlined the crucial steps needed to unlock the nation’s economic potential. Dr. Agama […]
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- August 1, 2024
FCMB Launches N110bn Public Offer To Strengthen Capital Base
First City Monument Bank (FCMB) Limited Group has initiated a public offer to raise N110 billion, issuing 15,197,282,219 ordinary shares at N7.30 per share. This capital raise is part of a broader strategy to meet the Central Bank of Nigeria’s (CBN) new capital requirements for banks, which have significantly increased after almost two decades. The […]
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- July 31, 2024
New Listing Boosts NGX Market Cap By N105bn Despite Market Slump
The recent listing of 2,418,099,300 ordinary shares of 50 Kobo each per share of Notore Chemical Industries Plc on the Nigerian Exchange (NGX) has significantly boosted the market capitalisation of the local bourse by N105.79 billion, raising it to N55.72 billion. This development occurred despite a subdued trading session on Monday, July 29th, with the […]
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- July 29, 2024
SEC Approves NGX Impact Board To Enhance Sustainability
The Securities and Exchange Commission (SEC) has granted approval to the Nigerian Exchange Limited (NGX) to launch its Impact Board, a specialised platform aimed at enhancing the listing and visibility of sustainability-focused financial instruments. The announcement was made during a Closing Gong Ceremony held at the NGX headquarters in Lagos on July 27, 2024. The […]
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- July 26, 2024
Stock Market Hits New Low Amid Persistent Sell-Side Pressure On NGX
The Nigerian equities market continued its decline on Thursday, September 25, 2024 with the market shedding N118 billion, equivalent to a 0.21 percent decrease, as sell-side pressure persisted. The downturn was influenced by investor reactions to the half-year (H1) financial results of companies and the recent hike in the benchmark interest rate, which has made […]
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- July 26, 2024
NGX Delists 14 Companies For Listing Non-compliance
The Nigerian Exchange Limited (NGX) has delisted 14 companies from its platform due to non-compliance with listing standards. The affected companies, including Goldlink Insurance Plc, Medview Airline Plc, and STACO Insurance Plc, failed to submit their 2023 financial year results, among other regulatory deficiencies. According to a statement by Mr. Godstime Iwenekhai, Head of the […]
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- July 25, 2024
Zenith Bank Seeks NGX’s Approval To List 5.23bn Shares
Zenith Bank Plc has officially approached the Nigerian Exchange Limited (NGX) to secure approval for the listing of 5,232,748,964 new ordinary shares at a price of N36.00 per share. This strategic move aims to raise approximately N188.378 billion via a rights issue, offering existing shareholders one new share for every six held as of the […]
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- July 16, 2024
Nigerian Stocks Lose N334bn In Market Cap As Bears Take Over In July
The Nigerian Exchange (NGX) began the second half of 2024 on a bearish note, experiencing a notable decline of 0.39 percent over the past two weeks. This downturn has resulted in a substantial loss of N334 billion in market capitalisation. By the close of the week ending July 12, 2024, the NGX’s All-Share Index (ASI) […]
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- July 16, 2024
NGX Lists Wema Bank’s Rights Issue Of 8.572bn Shares
The Nigerian Exchange Limited (NGX) has officially listed Wema Bank Plc’s Rights Issue of 8.572 billion ordinary shares on its platform. This listing was detailed in the recent NGX weekly report and marks a significant step in Wema Bank’s recapitalisation efforts. According to the NGX report, the additional shares arose from Wema Bank’s Rights Issue […]
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