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This week, the NGX-Banking Index advanced by 5.14% week on week (W-o-W) to close at 857.23. In the Tier 1 banking sector, GTCO, Ecobank, and Zenith maintained impressive performance year-to-date (YTD) price adjustments of 13.33%, 4.55%, and 0.52%, while other banks in this category have seen a fall in their stock prices. UBA was the highest gainer for the week, closing at N23.0k. …
Continue reading “Banks Recapitalization Watch for the week ended August 09, 2024”
One thing that could not be disputed is that the damage of the past to this brand is still hunting its future . Its current efforts at raising new funds to boost its capital base as demanded by the regulatory authorities may be its immediate victim To capture the maximum returns a product or service …
Beyond Its Corporate Governance Issue , Raising Concern is Its Weak Strategic Capability To some observers ,the key challenge currently facing First Bank Nigerian Holdings,FBNH,is the uncertainty surrounding the quality of its corporate governance. But that is not the only issue its stakeholders are unsettled about . A challenge of equal degree is the bank’s …
At the close of trading on June 9, 2024, Access Holdings’ share price stood at N19.35, which is 2% lower than the N19.75 price set for the bank’s ongoing rights issue. On July 8, the opening day of the rights issue, the share price opened at N19.20, then appreciated by 2% to close at N19.60. …
Continue reading “Access Holdings explains why its issued shares price is higher than market price”
Zenith Bank Plc will be raising N290 billion through a combination of a rights issue and public offer. The bank broke the news yesterday during its rights issue/public offer signing ceremony held in Lagos. The capital raising exercise complies with the revised minimum capital requirements for commercial banks set by the Central Bank of Nigeria …
Continue reading “Zenith Bank to raise N290b through rights issue, public offer”
This week, the NGX-Banking Index declined by 0.05% week on week (W-o-W) to close at 843.99. Among the Tier 1 banks, GTCO and Ecobank have shown positive performance so far this year. Specifically, GTCO’s shares have surged by 10.99% year-to-date (YTD), closing at N44.95, while Ecobank saw a rise of 3.35% YTD to N20.90, marking a significant divergence from …
Continue reading “Banks Recapitalization Watch for the week ended July 19, 2024”
The President of Dangote Group, Aliko Dangote, has made an offer to sell the Dangote Refinery to the Nigerian National Petroleum Corporation Limited. Speaking in an exclusive interview with Premium Times on Sunday, the businessman expressed his willingness to sell the refinery to address allegations of monopoly in the industry. He stated that if the …
Continue reading “Buy me out, Dangote offers to sell refinery to NNPC”
Seplat Energy Plc experienced a significant decline on the Nigerian Exchange (NGX) today, with its share price falling by 8.30% to close at N3,480. This drop also resulted in a market capitalization decrease of N185.16 billion. The stock’s decline was the major driving force as the Nigerian Exchange declined by 0.33% to close with an …
Continue reading “Seplat’s N185 billion decline drags NGX to lowest level in two weeks”
On July 7, 2024, Access Holdings Plc announced that it received approval from the Securities and Exchange Commission to execute a rights issue of 17.772 billion ordinary shares at N19.75 each, based on 1 new share for every 2 held as of June 7, 2024. Compared to the June 7, qualifying date price of N17.25, …
Continue reading “Access Holdings Plc Rights Issue: The Takeaways”
As one of the consequences of getting bigger and faster a Proshare’s analyst’s Bank Strength Index (PBSI) has ranked Access Corp highest amongst its tier 1 counterparts . The Proshare Bank Strength Index (PBSI), which evaluated banks using a pool of financial metrics based on audited financial statements for the Financial Year (FY) 2023, named Access …
Continue reading ” Tier 1 Banks Report 2024: Access Bank Ranked Above Others.”
