NewsExpress advert FCMB banner
UBA offloads 2.09bn shares

By Chinyere Joel-Nwokeoma on 18/07/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,289

 The United Bank for Africa (UBA) on Tuesday drove activity on the Nigerian Stock Exchange (NSE) with a turnover of 2.09 billion shares valued at N19.76 billion.

Mr Ambrose Omordion, the Chief Operating Officer, InvestData Ltd., attributed the activity in UBA to part of the management’s plan to reduce the bank’s issued shares in line with the shareholders’ mandate.

Omordion said that the bank had a scheme for members of staff and the shares in the scheme were in excess of two billion ordinary shares which were offloaded.

He said that the transaction would boost both the bank’s earnings and dividend payout going forward.

The News Agency of Nigeria (NAN) reports that the volume of shares traded closed higher due to huge activity posted by UBA.

Consequently, a total of 2.40 billion shares worth N21. 61 billion were transacted in 3,715 deals against 322.81 million shares valued at N2.73 billion achieved in 3,830 deals on Monday.

Continental Reinsurance came second with an exchange of 174.42 million shares worth N219.77 million, while FBN Holdings sold 35.51 million shares valued at N208.48 million.

Oando traded 13.59 million shares worth N89.96 million and Skye Bank accounted for 9.31 million shares valued at N5.59 million.

Also, the NSE market indices appreciated further with the All-Share Index growing by 135.18 points or 0.41 per cent to close at 33,436.61 against 33,301.43 recorded on Monday.

Similarly, the market capitalisation rose by N46 billion or 0.40 per cent to close at N11.523 trillion in contrast with N11.477 trillion posted on Monday, due to price gains.

Nestle led the gainers’ table during the day, gaining N16 to close at N920 per share.

Beta Glass followed with a gain of N2.70 to close at N57.47 and Okomu Oil appreciated by N2.62 to close at N63 per share.

Unilever gained N1.81 to close at N38.19, while Nigerian Breweries appreciated by N1.70 to close at N159.11 per share.

On the other hand, Forte Oil recorded the highest price loss to lead the laggards’ table with a loss of N2.54 to close at N57.96 per share.

Cadbury trailed with a loss of 56k to close at N12 and Zenith Bank shed 42k to close at N21.53 per share.

Custodian and Allied Insurance declined by 17k to close at N3.40, while May and Baker was down by 14k to close at N2.65 per share. (NAN)

Source News Express

Posted 18/07/2017 9:21 PM


Share on facebook Yahoo mail icon Gmail icon Share on Google+



REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...


You may also like...
Boko Haram releases 27 hostages

Anambra 2017 Guber: Group calls for Obiano’s re-election...

CBN moves to ensure availability of Forex, announces...

Boko Haram dislodged from forest hideout, suffers heavy...

Troops nab Boko Haram financier, raid camp

Air Chief charges security spokespersons on crisis management...

Leave Obuah alone!

FG develops action plan to neutralise Boko Haram’s...

Ikpeazu declares war on kidnappers; vows to demolish...

Peace Corps Bill: Commandants beg Buhari to change...

Oyo schools resume October 6

Don’t lose hope, APC tells Nigerian workers as...


Latest News Working less, solution to just about everything (2) BREAKING NEWS: Air Force plane crashes in Kaduna Christians, South-East lose out in security and paramilitary appointments •The shocking details UN withdraws 108 Nigerian police officers on peace-keeping mission in Liberia FG promises regular power supply for Ariaria (Aba), Sabon Gari (Kano) markets NNPC under fire for hiding financial information Okorocha shuns Imo APC stakeholders meeting UK, US lawmakers descend on Facebook, Zuckerberg 4 jailed for assaulting EEDC staff, vandalising electrical installations Akoh sues for peace as displaced residents of warring Benue communities return home after 6 months Embrace online church and cybermision, Nigerian pastors told Group calls on FG to stop Rivers State Neighborhood Corps, threatens to set up another safety corps


Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (332,348 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (324,986 views) Shameless Genevieve Nnaji exposes breasts in public (260,755 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (214,312 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (197,974 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (192,352 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (167,633 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (150,373 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (143,122 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (133,183 views) Lagos plane crash: Journalist releases victims’ names (132,577 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (125,849 views)


Categories Advertorials (3) African Press Organisation (81) Art & Literature (34) Business & Economy (2,971) Business Verdict (36) Columnists (814) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (455) Features (552) Global Business Monitor (238) International (1,856) Interview (146) Live Commentary (28) Love Matters (114) News (33,721) Opinion (895) Pidgin (10) Politics (4,623) Religion (701) Sports (1,457) Stock Watch (28) AMA & Al Jazeera Global Update





Football Highlight -- BARCELONA - CHELSEA 3:0


APO Group Partner




REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera