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Daily Business News Brief – April 19th, 2024

19
Apr

NGX reverses gains as capitalisation dips by N35 billion – Guardian
Trading activities on the floor of Nigerian Exchange Limited (NGX) halted gains to close on a downturn yesterday, causing market capitalisation to decline by N35 billion. At the close of transactions yesterday, market capitalisation of listed equities declined by 0.06 per cent to N56.469 trillion from N56.504 trillion reported the previous day.
The All Share Index also went down by 62.98 basis points to 99845.91 points
against 99908.89 points traded on Wednesday. ………………………………………………………………. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
SEC moves to curb illicit funds in banking recapitalisation – Punch
The Securities and Exchange Commission has revealed its stance against the admittance of illicit funds into the capital market through the fresh banking recapitalisation exercise.
The Executive Director (Operations) of the commission, Dayo Obisan, revealed this on Thursday at a symposium organised by the Association of Capital Market Academics of Nigeria, with the theme ‘Banking Sector Recapitalisation Implications for the Nigerian Capital Market’……………………………………………………………… ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
NASCON suspends proposed merger with Dangote Rice Limited – Nairametrics
Nascon Allied Industries Plc has suspended the proposed merger with Dangote Rice Limited,
This was contained in a notice to the Nigerian Exchange Limited seen by Nairametrics.
According to the statement signed by A. A. Samuel, Company Secretary, the suspension was based on the current non-operational status of Dangote Rice Limited… .,…. .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
ETI Announces Successfully Repayment of $500m Eurobond – Thisday
Ecobank Transnational Incorporated (ETI) announced on the Nigerian Exchange Limited (NGX)  that it has successfully repaid its $500 million 5-year Eurobond that matured on April 18, 2024.
The Eurobond, which was issued in April 2019 was listed on the London Stock Exchange with a coupon rate of 9.5per cent. The bond garnered support from diverse group of global investors, including development banks, FMO and Proparco, who served as anchor investors.., . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Seplat’s Dual Listings: 10-years of Economic Impact, Shareholders’ Value – Thisday
Seplat Energy, formally known as Seplat Petroleum Development Company was April 14, 2014 listed on Nigerian Exchange Limited (NGX) and London Stock Exchange (LSE) with the aim to reward shareholders and drive Nigeria economy growth.
The leading indigenous company was first appeared on NGX before its listing on the LSE had made clear its intentions and purposes-to be the first and major Nigerian International Oil Company (IOC). , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Stanbic IBTC raises N350 billion to tackle energy inadequacy – Guardian
To further address the energy inefficiency in the country, the Chief Executive Officer, Stanbic IBTC Holding Plc, Dr. Demola Sogunle, said N350 billion fund has been raised to support customers in the energy sector.
Sogunle revealed this at the Stanbic IBTC Energy and Infrastructure Breakfast Session, in Lagos, saying that the bank is committed to fostering excellent connectivity between businesses and untapped markets, facilitating trade expansion, and positioning Stanbic IBTC Bank . , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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