The Nigerian Stock Exchange (NSE) has placed ordinary Shares of UNIC Insurance Plc on full suspension with effect from March 22, 2017.
According to the NSE, “This is in compliance with the process required for the approved Scheme of arrangement between the Company and holders of its fully paid ordinary shares”.
Also, Chellarams Plc has obtained the approval of The Exchange to migrate from the Main Board to the ASeM Board of the NSE.
Under the arrangement, Chellarams Plc through its Stockbroker filed an application for migration to the ASeM Board as a result of the company’s inability to meet the free float requirements of the Main Board.
Meanwhile, A total turnover of 1.309 billion shares worth N10.323 billion in 13,042 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.029 billion shares valued at N7.980 billion that exchanged hands last week in 13,441 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.139 billion shares valued at N6.028 billion traded in 7,518 deals; thus contributing 87.01% and 58.39% to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 71.209 million shares worth N2.306 billion in 2,261 deals. The third place was occupied by Services Industry with a turnover of 29.390 million shares worth N24.594 million in 258 deals.
According to NSE, trading in the top three equities namely – Continental Reinsurance Plc, Custodian And Allied Insurance Plc and FBN Holdings Plc (measured by volume) accounted for 565.746 million shares worth N1.450 billion in 914 deals, contributing 43.22% and 14.04% to the total equity turnover volume and value respectively.
The NSE All-Share Index and Market Capitalization depreciated by 0.77% and 0.80% respectively to close the week at 25,454.93 and N8.807 trillion respectively.
