NGX lifts suspension on C & L Leasing shares

The Nigerian Exchange Limited (NGX) has lifted the suspension placed on trading of C & I Leasing Plc shares, effective August 1, 2024.

This was contained in the weekly market report of the NGX obtained on Saturday, August 3.

The NGX, in its Market Bulletin of July 8, had notified trading license holders and the investing public of the suspension of trading on C & I Leasing Plc’s securities.

The suspension was in line with the provisions of Rule 3.1: Rules for Filing of Accounts and Treatment of Default Filing (Default Filing Rules), which state: “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, the Exchange will send to the Issuer a ‘Second Filing Deficiency Notification’ within two business days after the end of the Cure Period.

“The NGX will suspend trading in the Issuer’s securities and notify the Securities and Exchange Commission (SEC) and the Market within 24 hours of the suspension.”

The NGX also informed trading license holders of the opening of Zenith Bank Plc’s rights issue on Thursday.

Investors gain N219bn as stock market rebounds

The bank offered 5,232,748,964 ordinary shares of 50 kobo each at N36.00 per share based on one new ordinary share for every existing six ordinary shares held as of the close of business on July 24.

The NFX equally notified the investing public that an additional 2,418,099,300 ordinary shares of 50 kobo each per share of Notore Chemical Industries Plc were listed on the daily official list of the NGX on July 29.

These shares arose from Notore’s Private Placement of 2,418,099,300 ordinary shares at N43.75 per share.

With this listing, the total issued and fully paid-up shares of Notore have increased from 1,612,066,200 to 4,030,165,500 ordinary shares.

The NGX All-Share Index and Market Capitalisation depreciated by 0.46 per cent and 0.19 per cent, closing the week at 97,745.73 and N55.497 trillion, respectively, compared to the previous week’s 98,201.49 and N55.605 trillion.

Consequently, investors recorded a total loss of N108 billion for the week.

On the outlook for the next week, analysts at Cowry Asset Management Limited forecast a mixed trend with a possibility of profit-taking in the Nigerian stock market.

The Star