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Top 10 Stockbroking firms on the NSE in Q3 2019 

The top ten (10) stockbroking firms on NSE recorded the largest values and volumes of stocks traded in the last three month.

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As the Nigerian Stock Exchange (NSE) continues to maintain a bearish trend into the last quarter of 2019, the top ten (10) stockbroking firms recorded the largest values and volumes of stocks traded in the last three months.  

Basically, the Nigerian equity market, as measured by the All-Share Index depreciated by 11.95% as at the end of September 2019 while within the quarter under review, all share index dropped by 7.65%.  

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The top 10 stockbroking firms accounted for 58.83% (16.12 billion shares) of the total volume of stocks traded on the NSE and 74.55% (N280.6 billion) of the total value of traded shares in the third quarter 2019 (July and September). 

[READ MORE: Top 10 stockbroking firms on the NSE as at August 2019]

The top 10 stockbrokers by value 

  • Rencap Securities (NIG) limited tops the list. On the Exchange, the firm traded the largest volume of shares to the tune of N71.85 billion or 19.09% of the total value traded in Q3 2019.
  • Stanbic IBTC Stockbrokers Limited pulled shares worth N47.9 billion or 12.74% of total traded shares.
  • EFG Hermes Nig. Limited traded N43.3 billion (11.49%) worth of shares.
  • Tellimer Capital Limited traded N26.2 billion shares, representing 6.96% of total traded shares. 
  • CSL Stockbrokers Limited is next on the list with N25.07 billion or 6.66% of the total value of traded shares on the NSE.  
  • Chapel Hill Denham Securities Limited traded N17.3 billion representing 4.61% of total share value traded.
  • FBN Quest Securities Limited traded shares worth N16.2 billion, representing 4.31% of total value traded.
  • Other firms that made the list include Cardinal Stone Securities Limited (N12.7 billion or 3.38%), Nigerian International Securities LTD (N10.07 billion)  and Meristem Stockbrokers Limited makes the 10th on the list with N9.89 billion traded shares.  

 The top 10 stockbrokers by volume 

  • In terms of value, Rencap Securities (NIG) limited maintains the top spot with 2.48 billion worth of shares, representing 9.06% of the total value of traded shares in the quarter.
  • StanbicIBTC Stockbrokers Limited ranks 2nd and traded 2.41 billion shares or 8.82% of the total volume traded.
  • EFG HERMES NIG. Limited traded 2.10 billion shares during the quarter, representing 7.69% of the total volume traded on the NSE. 
  • CSL Stockbrokers Limited is next on the list with 1.70 billion or 6.21% of the total value traded.
  • TrustBanc Capital Management Limited ranks the 4th with 1.49 billion shares traded, thereby accounting for 5.46% of the total share volume traded.
  • Apel Asset Limited – BRDrecorded an estimated share traded volume of 1.43 billion or 5.23%. 
  • Chapel Hill Denham Securities Limited  traded 1.41 billion shares, which accounted for 5.16% of the total volume traded.
  • Other firms that made the list include Cardinal Stone Securities limited with 1.14 billion traded volume of shares, FBN Quest Security Limited (993.3 million shares) and  Morgan Capital Securities Limited with 931.1 million (3.40%) traded volume of shares. 

About the NSE: The Nigerian Stock Exchange (NSE) was established in 1960 as the Lagos Stock Exchange. In 1977, its name was changed from the Lagos Stock Exchange to the Nigerian Stock Exchange. As of September 30, 2019, it had 170 listed companies with the All-Share Index and Market Capitalization closing at 27,675.04 and N13.472 trillion respectively.   

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[READ FURTHER: Flee from stocks not found on this list]

Patricia

Samuel is an Analyst with over 5 years experience. Connect with him via his twitter handle

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Corporate deals

Uber expands food delivery business in a $2.65 billion acquisition 

This deal would help Uber expand its market share against privately held DoorDash Inc.

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Uber to pay drivers diagnose with Coronavirus, suspend riders, drivers accounts, Uber to temporarily shut down operation in Nigeria as FG locks down revenue-driven routes, Uber partners Unilever to ensure compliance to health guidelines

The multinational ride-hailing service company, Uber has agreed on a deal aimed at expanding its food delivery business with the acquisition of food delivery app, Postmates Inc, in a $2.65 billion all-stock take over which is expected to be announced as soon as Monday, July 6, 2020. 

According to Bloomberg, the deal which has been approved by the board of directors of Uber, will have the head of Uber’s food delivery business, Pierre-Dimitri Gore-Coty, to continue to run the combined delivery business. Under the agreement, Postmates Chief Executive Officer, Bastian Lehmann and his team will continue to manage Postmates as a separate service. 

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This deal would help Uber expand its market share against privately held DoorDash Inc, the current market leader in US food delivery business. While Postmates lags behind DoorDash in the race for market share, it has still been able to maintain a strong position in Los Angeles and the American Southwest, both of which could be available to Uber eats. 

READ ALSO: Uber Introduces Uber Cash In Nigeria

Uber and Postmates who have been in discussion for about 4 years, intensified the acquisition talk about a week ago, after an approach by Uber. This move is coming on the heels of the failed bid by Uber to acquire publicly quoted GrubHub Inc, which was bought over by Europe’s Just Eat Takeaway.com NV for $7.3 billion. 

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Postmates’ valuation was last put at $2.4 billion when it raised $225 million in a private fundraising around last September. According to analytics firm, Second Measure, they account for 8% of the US meal delivery market in May.  

READ ALSO: In less than 72 hours USDC Treasury transfers over 50,000,000 USDC to wallets

Postmates, which was founded in 2011 was one of the first to let customers in the U.S. order meal delivery using a mobile app. However, competition has intensified in recent years and Postmates has fallen to a distant fourth. The company said in February 2019 that it had filed paperwork confidentially for an initial public offering but never went public.  

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Ekiti State secures UN and SHS Holdings partnerships to invest $2 billion to build 50,000 homes

The UN Office for Project Services and SHS will mobilize 3rd party investors to fund the initiative.

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Ekiti state government imposes curfew, full lockdown, Ekiti state slashes Right of Way charges for Telecom infrastructure from 4500 to 145, Ekiti State Secures UN and SHS Holdings partnerships to invest $2 billion for building 50,000 homes

The government of Ekiti State has announced it has partnered with the United Nations Office for Project Services (UNOPS) and the Sustainable Housing Solutions (SHS) Holdings to build 50,000 homes with renewable energy from 2020-2030 in Ekiti State.

The programme is part of the UNOPS Sustainable Infrastructure Impact Investment (S3I) initiative. “The agreement will help address the housing shortages in Ekiti State with a focus on sustainability and local economic development,” The UN said.

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READ MORE: UAE firm partners DBillions to address housing shortages in Lagos

Speaking on the initiative, Ekiti State Governor, Dr. Kayode Fayemi said, “We are very excited to partner with UNOPS and SHS to deliver affordable housing to the people of Ekiti.”

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READ ALSO: UAE firm partners DBillions to address housing shortages in Lagos

“This is how our promise of developing Ekiti and improving the lives of the people can be achieved. This partnership has come at an important time, during the COVID-19 pandemic, which has reminded us of the need to deliver quality social infrastructure to the people,” he added.

UNOPS and SHS will mobilize 3rd party investors to fund the initiative which is valued to cost $2 billion.

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The UNOPS S3I aims to build at least in million homes in multiple countries in 3 continents over the next decade.

 

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Actis-backed group acquires Nigerian university

The group owns private universities in Morocco, Tunisia, Mauritius, South Africa, Zambia, and Zimbabwe.

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Actis-backed group acquires Nigerian university

Honoris United Universities, an African education group backed by Actis, has acquired the Nile University in Abuja, its first University acquisition in Nigeria and the entire West African region.

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The CEO, Luis Lopez announced that the deal was closed back in February before the COVID-19 pandemic spread across the continent.

READ ALSO: NCC disburses N100 million to universities for ICT Research

The group owns private universities in Morocco, Tunisia, Mauritius, South Africa, Zambia, and Zimbabwe. Now, it wants to add Nigeria to its portfolio.

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In 2017, the private equity firm, Actis, set up a $275 million higher education platform for Africa through the Honoris United Universities initiative.

1,700 students have so far graduated from the insitution since it was founded in 2009 and it currently has 3,500 students with a tuition of $6,700 (N2.4 million).

READ ALSO: Growth must be seen in citizens’ lives, AfDB President to African leaders 

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The CEO said it noticed a demand for high-quality education in Nigeria and plans on expanding its student base to 10,00 in six years.

Honoris will also expand its digital distance learning programmes with the aim of attracting students in Lagos and 2 other cities in northern Nigeria.

READ MORE: Nigeria, Kenya, South Africa attracted $3.9 billion VC deals in 6 years

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Patricia
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