Stock Market
United Capital Plc CEO purchases 1 million additional shares worth N5.17 million
Mr. Peter Ashade has spent the sum of N13.72 million on the purchase of additional 3.1 million stocks of the company in the last three months.
Published
1 month agoon
The CEO of United Capital Plc, Peter Oladele Ashade, has purchased an additional one million units of the company’s shares, worth N5.17 million.
The information is contained in a notification sent to the NSE and signed by the Company’s Secretary, Leo Okafor.
The breakdown of the transaction which occurred on 14th of January 2021, showed that the shares were sold at N5.17 per unit of shares.
READ: United Capital result points to how banks could make money in this pandemic
What you should know
- Mr Peter Ashade, on 3 November 2020, purchased 2,100,000 units of the firm’s shares worth N8.55 million, spread across two deals.
- He has spent a combined sum of N13,718,800 on the purchase of additional 3,100,000 units of United Capital Shares in the last three months.
- United Capital Plc shares currently trade at N5.20, down by N0.09k, from its opening price of N5.29, indicating a decline of 1.7%.
- The announcement of the recent insider dealing is part of the corporate governance mechanisms instituted by the NSE to ensure transparency and accountability. Institutions quoted on the Nigerian Stock Exchange and other exchanges are required to notify the general public of such transactions.
READ: United Capital Plc records 25.90% increase in 2020 Q3 gross earnings
Chidi Emenike is a graduate of economics, a Young African Leadership Initiative Fellow and an Investment Foundations certificate holder. He worked as a graduate Teaching Assistant in the Federal College of Education Kano and is also a trained National Peer Group Educator on Financial Inclusion
Stock Market
United Capital Executive Director acquires 2 million additional shares worth N12.4 million
An Executive Director of United Capital Plc has purchased additional units of its shares worth N12.4 million.
Published
7 hours agoon
February 25, 2021
United Capital Plc has notified the Nigerian Stock Exchange that one of its Executive Directors, Sunday Anene has acquired 2,000,000 additional units of its shares, worth N12.4 million.
In line with the Nigerian Stock Exchange policy on insider dealing, the formal disclosure was made by the company’s secretary, Leo Okafor.
According to the disclosure, the recent deal which took place on the 24th of February, 2021, saw Mr Anene purchase 2,000,000 additional units of the firm’s shares at N6.20 per unit, totalling N12.4 million.
Meanwhile, United Capital Plc share price currently trades at N6.24 on the floor of the Nigerian Stock Exchange.
Results from its recently released FY 2020 financials showed a 57% increase in Profit After Tax, from N4.97 billion to N7.81 billion.
Other key financial metrics recorded impressive growth, part of which played an underlying role in the declaration of a total dividend of N4.2 billion- a major improvement of about 40% when compared to 2019 figures.
What you should know
- Mr Anene had in November 2020, spent the sum of N3.75 million on additional 915,574 units of the firm’s shares.
- United Capital Plc is a Nigeria-based financial and investment services company, offering a wide array of services like investment banking, portfolio management, securities trading and trusteeship etc.
Spotlight Stories
Sell-offs resume in Nigerian stock market, catalyzed by Ecobank, Fidson
Investor sentiment as measured by market breadth was negative with 24 decliners and 14 advancers.
Published
9 hours agoon
February 25, 2021
Nigerian bourse ended the fourth trading session on a negative note. Nigeria’s All-share index depreciated by 0.31% today to 40,095.49 index points.
Year-to-date return and market capitalization settled at -0.43% and N20.97 trillion respectively.
- A total volume of 326.0 million units of shares, valued at N3.7 1billion exchanged hands in 4,567 deals.
- Across coverage sectors, the performance was mostly negative as most tracked indices finished south. The NSE banking, consumer goods, and oil & gas fell by 1.44%, 0.79%, and 0.15% respectively.
- On the flip side, the NSE insurance improved by 0.24%, while the industrial index closed flat.
- Investor sentiment as measured by market breadth was negative with 24 decliners and 14 advancers. LASACO (-9.68%) led the laggards today, while CHAMS (+9.09%) finished top gainer.
Top gainers
- CHAMS up 9.09% to close at N0.24
- ROYALEX up 8.00% to close at N0.27
- WEMABANK up 7.69% to close at N0.7
- REDSTAREX up 5.77% to close at N3.3
- PRESTIGE up 4.55% to close at N0.46
Top losers
- LASACO down 9.68% to close at N1.24
- FIDSON down 8.41% to close at N4.9
- ETI down 6.31% to close at N5.2
- MBENEFIT down 5.13% to close at N0.37
- UACN down 5.03% to close at N7.55
Outlook
Nigerian stocks ended the second trading session of the week on a bearish note amid profit-taking across the market spectrum.
- Downtrend was driven by price depreciation medium and large capitalized stocks amongst which are; ETI, FIDSON, UACN.
- That being said, Nairametrics envisages cautious buying on the account that certain market indicators reveal investors are taking some of their gains across the market spectrum.
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