8 Stocks Make NSE Fresh Listings In 2018 Worth N341.59bn

Culled—Proshare

November 20, 2018/Proshare Research 

ReferenceProshare MARKETS

Preamble

The Nigerian Stock Exchange (NSE) has so far recorded news listings for eight quoted firms this year in the Exchange. 

The listings amounting to N341.59 billion were listed by STANBICNOTORE,FLOURMILLMORISONWAPCOUACNHMARKINS and UBN

STANBIC listed a supplementary 64,208,713 units of bonus shares worth N3.21 billion. Despite the new listing, STANBIC gained just 0.20 percent, while the equity’s volume traded rose slightly from 0.18 million units of shares to 1.43 million units on August 10, 2018.

Listing by Introduction

NOTORE, which is the first and only stock listed on the NSE by introduction so far this year, issued 1,612,066,200 ordinary shares of 50 Kobo each par value at N62.50, amounting to N100.75 billion. The listing of pushed up the market capitalisation byN158 billion at the close of from N13.26 trillion to N13.39 trillion.

Supplementary Listing (s) Via Rights Issue

FLOURMILLMORISONWAPCOUACNHMARKINS and UBN listed through Right Issues. 

FLOURMILL listed 1,476,142,418 ordinary shares of 50 kobo each at N27 per share, this is valued at N39.86 billion; MORISON listed 836,983,125 ordinary shares of 50 kobo each at N0.60 per share worth N502 million; WAPCO listed 3,097,653,023 ordinary shares of 50 kobo each at N42.50 per Share worth N131.65 billion. 

UACN raised N15.37 billion by listing 960,432,193 ordinary shares of N0.50 each at N16 per share. HMARKINS listed 1,000,000,000 ordinary shares of N0.50 each at N0.50 per share worth N500 million, while UBN raised N49.75 billion by listing 12,133,646,995 ordinary shares of 50 kobo each at N4.10 per share.

Performance Review

A review of the performance of these stocks on the NSE shows that listing did not affect their share prices, instead some depreciated in value while some were flat on the listed date.

Table 1: Share Price

  Share Price
Issuer Day Before Listing (n) Listing Day (n) Day after Listing (n)
FLOURMILL 35.2 34.75 34.5
MORISON 0.55 0.55 0.55
WAPCO 47.05 47.5 50
UACN 17.05 17.05 17.1
HMARKINS 0.35 0.33 0.31
UBN 8.45 8.4 7.98

Source: NSE, Proshare Research

Table 2: Supplementary Listing(s) in 2018

ISSUER DATE LISTED QUANTITY ADMITTED UNIT PRICE (N) VALUE/MARKET CAP (N) DESCRIPTION
Stanbic IBTC Holdings Plc 9-Aug-18 64,208,713 50 3,210,435,650 Supplementary: Listing of 64,208,713 units of bonus shares in Stanbic IBTC Holdings Plc
Notore Chemical Industries Plc 2-Aug-18 1,612,066,200 62.5 100,754,137,500 New: Listing by Introduction of 1,612,066,200 ordinary shares of 50 Kobo each at N62.50 per share of Notore Chemical Industries Plc
Flour Mills of Nigeria Plc 27-Apr-18 1,476,142,418 27 39,855,845,286 Supplementary: Rights Issue of 1,476,142,418 ordinary shares of 50 kobo each at N27 per share on the basis of 9 new ordinary shares for every 16 ordinary shares held as at 8 December 2017
Morison Industries Plc 23-Mar-18 836,983,125 0.6 502,189,875 Supplementary: Rights Issue of 836,983,125 ordinary shares of 50 kobo each at N0.60 per share by Morison Industries Plc on the basis of 11 new ordinary shares for every 2 ordinary shares held as at 25 August 2017
Lafarge Africa Plc 22-Mar-18 3,097,653,023 42.5 131,650,253,477 Supplementary: Rights Issue of 3,097,653,023 ordinary shares of 50 kobo each at N42.50 per Share on the basis of 5 new ordinary shares for every 9 ordinary shares held as at 1 November 2017
UAC of Nigeria Plc 2-Mar-18 960,432,193 16 15,366,915,088 Supplementary: Rights issue of 960,432,193 ordinary shares of N0.50 each at N16 per share on the basis of 1 new ordinary share for 2 existing shares
Consolidated Hallmark Insurance Plc 12-Feb-18 1,000,000,000 0.5 500,000,000 Supplementary: Rights issue of 1,000,000,000 ordinary shares of N0.50 each at N0.50 per share on the basis of 1 for 6
Union Bank of Nigeria Plc. 12-Jan-18 12,133,646,995 4.1 49,747,952,680 Supplementary: Rights Issue of 12,133,646,995 ordinary shares of 50 kobo each at N4.10 per share on the basis of 5 new ordinary shares for every 7 ordinary shares held

  Source: NSE, Proshare Research

 

 

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