The United Bank for Africa (UBA) on Tuesday sustained its growth profile on the floor of Nigerian Stock Exchange (NSE) with a turnover of 2.09 billion shares valued at N19.76Billion.
At the end of trading activities on Tuesday, a total of 2.40 billion shares worth N21. 61bn were transacted in 3,715 deals against 322.81 million shares valued at N2.73 billion achieved in 3,830 deals the previous day.
Under the arrangement, Continental Reinsurance came second with an exchange of 174.42 million shares worth N219.77m, while FBN Holdings sold 35.51 million shares valued at N208.48m.
Meanwhile, United Bank of Africa Plc has announced the cancellation if it’s Staff Share Investment Trust Scheme (SSITS).
In a notice to the Nigeria Stock Exchange (NSE), the Bank announced the crossing of 2,080,104,955 units of its ordinary shares from the Staff Share Investment Trust Scheme (SSITS) to the Bank.
“This transfer of shares from SSIT to the Bank is part of the process of executing the Special Resolution of the Shareholders at the Annual General Meeting held on Friday, April 08, 2016, to cancel the shares held under the SSIT. Following this transfer, the Bank will complete all relevant processes to effect the cancellation of these shares,” said UBA
At the end of transaction on Tuesday, the market capitalisation rose by N46bn or 0.40 per cent to close at N11.523tn in contrast with N11.477tn posted on Monday.
