Sunu proposes share reconstruction
Trading activities on the floor of the Nigerian Stock Exchange (NSE) closed last week on the positive route as the NSE All-Share Index and Market Capitalizmsation both appreciated by 0.86 per cent to close the week at 28,659.45 and N14.980 trillion respectively. All other indices finished higher with the exception of NSE Insurance which depreciated by 0.68 per cent while the NSE ASeM Index closed flat A total turnover of 1.955 billion shares worth N22.978 billion in 22,844 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 3.140 billion shares valued at N35.372 billion that exchanged hands the previous week in 35,099 deals.
The Financial Services industry (measured by volume) led the activity chart with 1.648 billion shares valued at N18.824 billion traded in 13,050 deals; thus contributing 84.29 per cent and 81.92 per cent to the total equity turnover volume and value respectively.
The Conglomerates industry followed with 99.313 million shares worth N87.823 million in 553 deals. The third place was the Consumer Goods, with a turnover of 60.570 million shares worth N991.189 million in 3,269 deals.
Trading in the top three equities namely United Bank for Africa Plc, Guaranty Trust Bank Plc and Zenith Bank Plc. (measured by volume) accounted for 885.515 million shares worth N15.881 billion in 6,308 deals, contributing 45.30 per cent and 69.11 per cent to the total equity turnover volume and value respectively. Thirty five equities appreciated in price during the week, lower than 53 equities in the previous week.
23 equities depreciated in price, higher than 14 equities in the previous week, while 104 equities remained unchanged, higher than 96 recorded in the previous week. A total of 701,543 units valued at N6.051 billion were traded last week in 44 deals compared with a total of 1.051 million units valued at N4.847 billion transacted the previous week in 33 deals. A total of 19,475 units valued at N23.752 million were traded last week in 5 deals compared with a total of 79,691 units valued at N108.241 million transacted the previous week in 23 deals. Dealing members were notified that pursuant to Clause 15 of the General Undertaking, Appendix III of the Rule Book of the Nigerian Stock Exchange, 2015 that the entire issued share capital of Anino International Plc (Anino) was delisted from the Daily Official List of the Nigerian Stock Exchange on Monday, 12 October 2020.
The delisting of Anino was approved by the National Council of the Exchange on Thursday, 30 April 2020 in line with the exchange’s regulatory delisting process as a result of persistent non-compliance with the Emexchange’s post listing rules. Dealing Members were also notified that following the special resolutions passed by the shareholders of Sunu Assurances Nigeria Plc at the Extra-Ordinary General Meeting held on March 9, 2020 in favour of the company’s proposal to carry out a share capital reconstruction, Sunu Assurances Nigeria Plc through its stockbroker, FSDH Securities Limited, has submitted an application for the share capital reconstruction to the Nigerian Stock Exchange.