• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Opinions Blurb

Did Lagos State just sell its shares in Lasaco?

Nairametrics by Nairametrics
May 21, 2015
in Blurb, Spotlight, Stock Market
Did Lagos State just sell its shares in Lasaco?
Share on FacebookShare on TwitterShare on Linkedin

Lasaco Assurance Plc is one of those few stocks at the bourse that is reckoned with more pain than gain. A lot of bull seeking investors who bought shares in this company back in June 2009 when it was about N1.30 have had to live with a 50 kobo per share price since then till date. However, are things about to change?

Trading on the Nigerian bourse today, revealed the company topped the volume charts with a whopping 1,577,001,00o units of share crossing at a floor price of 50 kobo. This is an astonishing phenomenon considering the volume of trade and the fact that there was no price movement.

If history, is anything to rely on then this is a pure indication of a takeover or a significant block purchase from an investor(s). Unfortunately, the delay at the NSE will ensure that investors remain in the dark and will not be immediately informed of what had just happened.

RelatedStories

CBN FORBEARANCE: New RENCAP report names banks facing dividend suspension till 2028

June 16, 2025
SEC warns Nigerians against investing in Risevest and Stecs  

SEC to launch ‘Crypto Smart, Nigeria Strong’ initiative for stablecoin regulation 

June 16, 2025

Lasaco’s last result was release its interim 9 months to September 2014 earnings, reporting a profit after tax of N311 million. The company however has a negative retained earnings of N351million and a share premium of about N941 million.

The company also has a total outstanding shares of 7,323,433,421 units. Today’s volume is therefore 21.5% of the company’s ordinary shares.

Strangely, no single shareholder of the company owned more that 10% of the company as at 2013 making this move even more difficult for analysts to discern. However, the top four shareholders below own a combined 34% of the shares in the company, which is more than the 21.5% that crossed Wednesday could provide a clue.

Shareholding structure of Lasaco as at December 2013.

Canon Properties & Investment Ltd  – 748,976,302 10.2748,976,302  (10.2%)

IHL Ventures Limited  – 627,000,000     (8.5%)

IHL Properties Limited – 625,000,000 – (8.5%)

Ibile Holdings – 450,796,764  (6.2%)

Nigerian Citizens and Associations – 4,882,570,355

Incidentally, Lagos State owns Ibile Holdings Ltd (its investment company of Lagos State) and we believe could also be owners of IHL Properties and IHL Ventures. Combined that gives you 23.2% shares. Ibile Holdings and IHL own investments in Skye Bank and are also have board representation at the bank.

The big question therefore is, Is Lagos State selling its shares in Lasaco Assurance?

 

Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

Related Posts

Bank Recapitalization

CBN FORBEARANCE: New RENCAP report names banks facing dividend suspension till 2028

June 16, 2025
SEC warns Nigerians against investing in Risevest and Stecs  
Cryptos

SEC to launch ‘Crypto Smart, Nigeria Strong’ initiative for stablecoin regulation 

June 16, 2025
Governor Sanwo-Olu to be honoured at Nairametrics Capital Market Awards for positioning Lagos as West Africa’s financial hub 
Real Estate and Construction

Lagos Govt suspends building permits along Lagos-Calabar Coastal Highway corridor  

June 16, 2025
L’Oréal–Konga Health’s Beauty & Wellness Campaign gains momentum as consumers embrace affordable personal care 
Companies

L’Oréal–Konga Health’s Beauty & Wellness Campaign gains momentum as consumers embrace affordable personal care 

June 16, 2025
CAP Plc appoints Oladele Ajayi as Non-Executive Director 
Appointments

CAP Plc appoints Oladele Ajayi as Non-Executive Director 

June 16, 2025
Cybercrime Charge: Court refuses AGF’s request to arrest Senator Natasha Akpoti  
Legal & Regulations

Cybercrime Charge: Court refuses AGF’s request to arrest Senator Natasha Akpoti  

June 16, 2025
Next Post
SEC suspends BGL Board and appoints interim management

SEC nails the coffin on BGL, suspends it from all capital market activities

Comments 1

  1. IHL secrets says:
    May 21, 2015 at 2:11 pm

    The IHL in IHL Properties and IHL Ventures stands for Ibele Holdings Limited…so the real question is who did Ibele Holdings Limited sell their stake to and why hasn’t an SEC filing stating the intention to purchase more than 5% of listed company been made?

    Reply

Leave a Reply Cancel reply

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

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • CBN FORBEARANCE: New RENCAP report names banks facing dividend suspension till 2028
  • SEC to launch ‘Crypto Smart, Nigeria Strong’ initiative for stablecoin regulation 
  • Lagos Govt suspends building permits along Lagos-Calabar Coastal Highway corridor  

Follow us on social media:

Recent News

CBN FORBEARANCE: New RENCAP report names banks facing dividend suspension till 2028

June 16, 2025
SEC warns Nigerians against investing in Risevest and Stecs  

SEC to launch ‘Crypto Smart, Nigeria Strong’ initiative for stablecoin regulation 

June 16, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics