Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result

Costain’s Share Price Gains 53% after Debt Repayment

Nairametrics by Nairametrics
January 28, 2014
in Uncategorized
Share on FacebookShare on TwitterShare on Linkedin

Thisday reports;

The share price of construction firm, Costain (W.A) Plc, Monday rose further as a result of sustained investor demand in the stock market.

Demand for Costain’s share has been high since last week following the disclosure that construction had liquidated its debt with First Bank of Nigeria Limited (FBN). A receiver manager was appointed by the bank last year as a result of the debt. 

RelatedPosts

Why A Drop In Inflation Does Not Necessarily Mean A Drop In Prices Of Commodities

20 Financial Terms You Need To Know In The Stock Market

However, Costain notified the Nigerian Stock Exchange (NSE) last week that the debt had been fully repaid.

Expectedly, the development piqued investors’ interest in it shares, which led to a rise of 43 per cent last week. Also, when trading resumed yesterday the stock appreciated further, garnering 9.7 per cent to close at N1.81 per share.

News continues after this ad


The construction firm had last November assured shareholders that its affairs were not being run by receiver manager.

However, the company last week said it paid the final installment of the concessionary amount via its letter to FBN dated January 13, 2014 and the bank had acknowledged the sum paid via its letter dated January 15, 2014.

News continues after this ad


Commenting on the issue, NSE said: “First Bank of Nigeria Limited has confirmed that based on this development, Costain (West Africa) Plc is deemed to have discharged its obligation to the bank on this facility. The bank also stated that steps are being taken to discharge the receivership at the Corporate Affairs Commission (CAC) and all relevant authorities will be notified as appropriate.”

Meanwhile, trading on the Nigerian bourse on the first day of the week was bearish as 43 stocks lost value compared to 17 that made gains.

http://www.thisdaylive.com/articles/costain-s-share-price-rallies-after-debt-repayment/169946/

Related

Tags: News Review

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Lagos announces partial closure of Third Mainland Bridge
    • Five jobs in Nigeria’s fashion industry that are not design-related
    • Insecurity: N6.5 billion demanded in kidnapping ransoms in Nigeria since July 2021 – SBM

    Follow us on social media:

    Recent News

    Third Mainland Bridge is intact and safe for commuters - FG

    Lagos announces partial closure of Third Mainland Bridge

    August 13, 2022
    Five jobs in Nigeria’s fashion industry that are not design-related

    Five jobs in Nigeria’s fashion industry that are not design-related

    August 13, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com