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Stock Market

Seplat reveals new shareholder with over 5% equity 

Sustainable Capital Africa Alpha Fund acquired a direct shareholding of 30,071,128 units from Seplat Petroleum

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Seplat, stakeholders call for collaboration on Customer Protection Act, Seplat Petroleum announces closed period, as directors meet on March 19th, Seplat Petroleum announces a final dividend of at $0.05 per ordinary share, Seplat Petroleum donates items for management of COVID-19 to Edo, Defiant Seplat books N49.b loss as crude oil prices forces new strategy 

Seplat Petroleum Development Company Plc, a leading Nigerian indigenous oil and gas company, has announced a new shareholder with over 5% equity investment.

The oil firm informed the market that one of its shareholders, Sustainable Capital Africa Alpha Fund, has acquired a direct shareholding of 30,071,128 units based on the issued share capital of 588,444,561 units of shares, giving the company a 5.11% ownership stake in Seplat.

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This was disclosed in a notification that was sent to the Nigerian Stock Exchange on June 16, 2020, and signed by the oil firm’s Company Secretary/Chief Governance Compliance Officer, Mrs. Edith Onwuchekwa, and also made available to the investing public.

Here is an excerpt from the press release seen by Nairametrics.

In the notification that was sent to the NSE, Seplat stated, ‘’The company received notification that a shareholder on the London platform, in the name of Sustainable Capital Africa Alpha Fund, dealt in shares and now holds a direct interest of 30,071,128 units of shares (5.11%) based on the issued share capital of 588,444,561 units of shares.’’

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‘’In line with the company’s commitment to updating the Exchange of its activities, we hereby notify the Exchange that the shareholder has now attained and crossed the threshold of 5% and above. Further details of the transaction are set out in the attached standard form for notification of major holdings (TR-1).’’

READ MORE: NSE promotes Digitisation of Governance, Risk Management & Compliance with launch of SentryGRC

The statement from the oil company also noted that this notification is made in accordance with Rule 12 of the amendments to the listing rule of the Nigerian Stock Exchange and Article 19 of the EU Market Abuse Regulations.

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The acquisition by Sustainable Capital Africa Alpha Fund now takes it to number 5 on the largest shareholders list. The top 4 are, MPI – 20.3%, Petrolin 13.69%, Allan Gray -6.84%, and Professional Support 6.62%.

During the week, Nairametrics reported an announcement from Seplat that it was transferring its OMLs 4, 38 from Seplat Plc to Seplat West Limited a subsidiary company. This basically turns Seplat into a holding company.

 

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Patricia

Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. He has worked in research and marketing departments of three top commercial banks. Chike is a senior member of the Nairametrics Editorial Team. You may contact him via his email- [email protected]

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Stock Market

Nigerian bourse gains N37.26 billion, triggered by BUACEMENT, ZENITH

Nigerian bourse finished on a bullish note triggered by AIRTELAFRI, BUACEMENT and ZENITH BANK

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Dangote Cement, Zenith Bank, shares, stocks, ARM's Shares of fortune, Understanding securities lending, nigerian stock exchange, coronavirus, NSE, Bears return ASI down 0.13% as trading volumes plunge, What’s going to happen to Nigeria’s stock market in May?, What’s going to happen to Nigeria’s stock market in May?, Nigerian bourse gains N37. 26 billion, triggered by BUACEMENT, ZENITH

The Nigerian Stock Exchange All Share Index finished today by 0.30% to 24,097.48 points, with market capitalization also adding N37.26 billion to close at N12.57 trillion.

However, trading activity was lower as evidenced by a 18.01% decline in volume of equities traded to 155.52 million units, while the value of trades also fell slightly by 6.60% to N2.60 billion. GUARANTY was the most traded by volume and value at 19.72 million units and N413.8 million.

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Market sentiment, as measured by market breadth, was negative as 18 tickers declined, relative to 17 gainers. REDSTAREX and PZ were the top gainers of the day with 9.76% and 5.00% price appreciation, while OKOMUOIL and UNILEVER topped the losers with 9.95% and 9.78% depreciation in share value.

The sectoral performance was mixed as two of the five indices closed higher, while the other three closed the day in the red. The Banking Index (+0.92%) led the advancers, followed distantly by the industrial Index (+0.09%).

Conversely, the Insurance Index fell by -1.92%, while the Consumer and Oil & Gas Index fell by -0.52% and -0.02% respectively.

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READ MORE: Top banks’ stocks plunge, as bears overwhelms Nigerian tier-2 banks’ rally

FCMB (+4.09%), UBA (+2.48%) and ZENITHBANK (+1.87%) lift the lenders’ Index, while BUACEMENT (+2.51%) raised the industrial Index. MANSARD (-9.66%) and CUSTODIAN (-9.09%) drove the Insurance Index lower, UNILEVER (-9.78%) and GLAXOSMITH (-8.08%) accounted for depreciation in the Consumer Goods Index and MRS (-9.78%) depressed the Energy Index. Similarly, MTNN closed the day lower by -0.86%.

Top gainers 

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REDSTAREX up9.76% to close N3.26,AIRTELAFRI up 3.66% to close at N328.7,BUACEMENT up 2.51% to close at N40.9,ZENITHBANK up 1.87% to close N16.35,PZ up 5.00% to close N4.2

Top losers 

OKOMUOIL down 9.95% to close at N69.7,UNILEVER down 9.78% to close at  N12.45,MRS down 9.78% to close at N12.45,MTNN down 0.86% to close at N115,DANGCEM down 0.79% to close at N126

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Outlook 

Nigerian bourse finished on a bullish note triggered by AIRTELAFRI, BUACEMENT. Nairametrics envisages market volatility will increase in the coming days as earning results are scheduled to come out.

 

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Stock Market

Investors lose N162 billion amidst buying pressure from ZENITH, GTBANK 

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SEPLAT, GUINNESS break Nigerian bourse support levels, investors lose N49 billion  , Nigerian Stock market records sixth consecutive loss, Investors lose N15.55 Billion,Nigerian Stock market records sixth consecutive loss, Investors lose N15.55 Billion

Nigerian bourse continued its bearish trend, taking no rest from previous week losses as the ASI dipped further by 1.27% to 24,026.05 index points on Monday.  

Market capitalization shed N161.59 billion to settle at N12.533 trillion. Accordingly, the Month-to-Date and Year-to-Date losses increased to -1.85% and -10.52%, respectively. 

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Activity levels closed strong, compared to the previous trading session, as total volume and value increased by 31.45% and 83.21% to 189.69million units and N2.78billion respectively. GUARANTY was the most traded by volume and value at 60.46million units and N1.27billion. 

Market sentiment, as measured by market breadth, was negative as 17 tickers declined, relative to 14 gainers. BETAGALSS and JBERGER were the top losers of the day with 9.95% and 9.81% price decline, while NAHCO and ZENITHBANK topped the gainers with 10.00% and 5.25% appreciation in share value. 

Performance across sectors mirrored the broad index as three out of the five major sub-indexes we cover posted losses. Price appreciation in ZENITH and GUARANTY spurred a +1.51% gain in the Banking Index, trailed by the Insurance Index, which appreciated by 1.05%, as CORNERSTONE & AIICO INSURANCE gained.  

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The Consumer goods index led the laggards with (-3.18%), on Nestle -6.51% decline.  The Industrial Index -2.35% followed, due to losses in BUACEMENT (-5.00%), while the Oil and Gas index declined distantly by- 0.04%, impelled by losses in OANDO. 

 READ MORE: Analysis: Seplat’s transfer of OMLs has us wary 

Top gainers 

NAHCO up 10.00% to close at N2.2, ZENITHBANK up 5.25% to close at N16.05, FLOURMILL up 5.11% to close at N18.5, UBN up  1.87% to close at N5.45, GUARANTY up 0.96% to close at N21. 

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Top losers 

BETAGLAS down 9.95% to close at N61.55, JBERGER down 9.81% to close at N16.55 NESTLE down 6.51%  to close at N1175, BUACEMENT down 5.00% to close at N39.9, CILEASING down 8.43% to close at N3.8,  

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Outlook 

Blue-chip heavyweights, BUACEMENT, NESTLE dragged the Nigerian bourse lower on Monday’s trading session, as market liquidity improved slightly. Nairametrics recommends cautious buying as economic uncertainty strengthens amidst Q2 earning result season. 

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Stock Market

Royal Rumble at first trading week of Q3 2020, ASI down 1.99% WoW

Trading in the top three equities accounted for 275.099 million shares worth N2.818 billion in 3,497 deals.

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Nigerian Stock Exchange

The Nigerian stock market ended the week on a bearish note, as the All Share Index (ASI) and Market Capitalization both depreciated by 1.99% to close the week at 24,336.12 and N12.695 trillion respectively.

A total turnover of 961.833 million shares worth N9.181 billion in 20,058 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 739.375 million shares valued at N8.563 billion that exchanged hands last week in 17,248 deals.

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The Financial Services industry (measured by volume) led the activity chart, with 618.714 million shares valued at N4.338 billion traded in 9,669 deals, thus contributing 64.33% and 47.25% to the total equity turnover volume and value respectively.

READ MORE: Nigerian stock market on a flawless bullish run, crude oil boost triggers rally

The Consumer Goods industry followed with 91.119 million shares worth N2.227 billion in 3,703 deals. In the third place was the Conglomerates industry, with a turnover of 60.640 million shares worth N62.779 million in 556 deals.

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Trading in the top three equities namely FBN Holdings Plc, Guaranty Trust Bank Plc, and United Bank for Africa Plc (measured by volume) accounted for 275.099 million shares worth N2.818 billion in 3,497 deals, contributing 28.60% and 30.69% to the total equity turnover volume and value respectively.

13 equities appreciated in price during the week, lower than 18 equities in the previous week. 59 equities depreciated in price, higher than 43 equities in the previous week, while 91 equities remained unchanged, lower than 102 equities recorded in the previous week.

READ ALSO: 5 Consumer stocks you should consider for your portfolio 

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Top gainers

OKOMU OIL PALM PLC. up 20.94% to close at N77.40

ROYAL EXCHANGE PLC. up 13.04% to close at N0.26

PRESTIGE ASSURANCE PLC up 10.64% to close at N0.52

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NEIMETH INTERNATIONAL PHARMACEUTICALS PLC up 9.49% to close at N1.50

ACADEMY PRESS PLC. Up 0.30 0.02 to close at 6.67% N0.32

VITAFOAM NIG PLC. up 5.30 0.29 to close at 5.47% N5.59

REGENCY ASSURANCE PLC up 5.00% to close at N0.21

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NESTLE NIGERIA PLC. up 4.73% to close at N1256.80

WAPIC INSURANCE PLC up 3.13% to close at N0.33

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NEM INSURANCE PLC up 2.50% to close at N2.05

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Top Losers

NIGERIAN AVIATION HANDLING COMPANY Plc. down 24.24% to close at N2.00

LEARN AFRICA Plc. down 21.48% to close at 1.06

UNILEVER NIGERIA Plc. down 18.82% to close at N13.80

GLAXO SMITHKLINE CONSUMER NIG. PLC. down to close at N4.95

UNION BANK NIG. Plc. down 15.08% 6.30 -0.95 -to close at N5.35

NASCON ALLIED INDUSTRIES PLC down 13.79% to close at N10.00

AIICO INSURANCE PLC. down 13.13% to close at N0.86

JAPAUL OIL & MARITIME SERVICES PLC down 12.00% to close at N0.22

STERLING BANK PLC. down 10.85% to close at N1.15

ARDOVA PLC down 10.73% to close at N11.65

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