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July 23 , 2007 - The African Capital Markets Report
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Market Turnover
A turnover of 12.54 billion shares worth N196.7 billion in 207,939 deals was recorded in May in contrast to a total of 11.79 billion shares valued at N139.70 billion exchanged during April 2007 in 155,570 deals. Consequently, total turnover between January and May 2007 was 50.6 billion shares valued at N672 billion. High turnover during the review month resulted from the slew of big ticket transactions, coupled with profit-taking and portfolio reviews by investors.
By month-end, the total market capitalization of the 291 listed securities stood at N8.4 trillion. The 203 listed companies accounted for N7.4 trillion or 87.9%. Zenith Bank Plc retained the most capitalized stock for the month, with market capitalization of N496.2 billion followed by First Bank of Nigeria Plc with N418.53 billion.
New Listing
A total of 10,372,774,316 ordinary shares of 50 kobo each in the name of Continental Reinsurance Plc were admitted to the Daily Official List in the Insurance subsector on Wednesday May 30, 2007 by way of Introduction. The shares were listed at N1.26 each.
Supplementary Listings
During the month, there were six supplementary listing as shown in the Table below:
S/N COMPANY ADDITIONAL SHARES REASONS
1. Nigerian Enamelware Plc 28,800,000 Bonus of 1 for 1
2. Nigerian Aviation Handling Co. Plc 450,000,000 Bonus of 3 for 2
3. Ecobank Transnational Incorporated 2,568,898 Staff Scheme Shares
4. The Okomu Oil Palm Plc 158,986,549 Bonus of 1 for 2
5. Crusader Insurance (Nig) Plc 2,340,789,994 Conclusion of Public & Rights Offerings
6 Guaranty Trust Bank Plc 2,000,000,000 Bonus of 1 for 4
Stocks Adjusted for Dividend
Ten stocks were adjusted for dividend during the month as shown in the table below:
S/N COMPANY DPS
1. Nigerian Enamelware Plc N0.50
2. AG Leventis Plc N0.10
3. Nigerian Bottling Co. Plc N0.30
4. Nigerian Aviation Handling Co. Plc N0.30
5. Ecobank Nigeria Plc N0.09
6. UACN Plc N1.00
7. Crusader Insurance (Nig) Plc N0.15
8. Guaranty Trust Bank Plc N0.50
9 UACN Property Dev. Co. Plc N0.35
10. WAPCO Plc N1.00
The NSE All-Share Index
The Nigerian Stock Exchange All-Share Index, which opened at 47,123.99 closed at an historic highest value of 49,930.19, representing a growth by 6.0% during the month. By month-end, 90 of the listed equities recorded price advances of between N0.02 and N17.00 while 43 stocks suffered price declines of between N0.04 and N24.98.
Operational Opening of the Lagos Trading Floor
The Lagos trading Floor, which was shut down on 18th December 2006 for upgrade of facilities (including floor redesign), was reopened on Friday, 25th May 2007. This is an operational reopening of the floor ahead of a ceremonial commissioning scheduled for later in the year
Review of Daily Trading Time
The Council of The Nigerian Stock Exchange approved a new daily trading time for the market. With effect from Monday May 28, 2007, the new trading time is between 9.30a.m and 12.30pm (3 hours) daily.
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