The Securities and Exchange Commission (SEC) has released draft guidelines for transition to electronic offering of shares and other securities in the capital market. Electronic offering (e-O) is the use of internet or other electronic means, including mobile or Unstructured Supplementary Service Data (USSD) platforms to provide access to prospectuses, offering memoranda, subscription forms and […] …
investors
OK Foods unveils brand ambassador
OK Foods Limited has named Mr Folarin ‘Falz’ Falana as the brand ambassador for its new menthol flavoured candy, Topmint. OK Foods Limited, a leading player in the confectionery and biscuits business in Nigeria for many years, recently launched the new menthol flavoured candy with “Topmint” as the brand name . Its Managing Director, Mr. […] …
SEC seeks amendment to capital market rules
Securities and Exchange Commission (SEC) is considering amendments to capital market rules and regulations’ that will empower it to suspend any public company that fails to submit its annual report within stipulated deadline. According to a draft amendment obtained by The Nation, the Commission is seeking to introduce a new rule, which will allow it […] …
Stanbic IBTC grows net profit by 54% to N74.4b
Stanbic IBTC Holdings Plc has recorded considerable growths across all key performance indicators in 2018 with the net profit rising by 54 per cent to N74.4 billion. Key extracts of the audited report and accounts for the year ended December 31, 2018 showed that the group grew its top-line earnings to N222.4 billion in 2018 […] …
Stockbroking firms to hold summit
Association of Stockbroking Houses of Nigeria (ASHON) has concluded arrangements to hold a special summit on financial inclusion in Lagos as part of its commitment towards deepening the capital market. The summit’s theme: “Financial inclusion: The capital market perspective“, has been carefully chosen to address the strategies for bringing every segment of the society under […] …
Fed Govt offers 12.62% return on new savings bonds
The Federal Government has opened application list for a new tranche of its Federal Government of Nigeria Savings Bond (FGNSB), providing retail investors opportunity to invest in sovereign securities. The application for the new FGNSB opened on March 04, 2019 and will run till March 08, 2019. The government, through the Debt Management Office (DMO), […] …
FSDH launches N1.5b IPO for treasury bills fund
FSDH Asset Management Limited has opened an application list for the initial public offering (IPO) of its FSDH Treasury Bills Fund. The asset management firm is offering 15 million units of its Treasury Bills Fund at par value of N100 each. The minimum investment amount is 100 units or N10,000 with multiples of 100 units […] …
Edo sponsors world digital exhibition
Edo State Government has taken up the permanent host city sponsorship of World Digital Exhibition (Worldex), a global technology trade fair hosted annually to link up sub-Saharan Africa with the global technology community. In a letter to Alford Conferences Limited Managing Director Mr. Frederick Apeji, the promoter of the technology trade exhibition, Mr. Taiwo Akerele, […] …
Exchange lifts suspension on Goldlink Insurance
•Firm posts N149m loss The Nigerian Stock Exchange (NSE) has lifted suspension on trading in Goldlink Insurance Plc shares, after the insurance firm submitted its relevant financial statements to the Exchange. The NSE had on July 5, 2017 suspended trading in Goldlink Insurance shares and other companies for failing to adhere to best corporate governance […] …
Nigerian Breweries to pay N19.4b net profit to shareholders
The board of directors of Nigerian Breweries Plc has recommended payment of the entire net profit of N19.4 billion recorded in 2018 as cash dividend to shareholders for the business year, despite the decline in the company’s performance. Shareholders will receive final dividend of N14.6 billion in addition to N4.8 billion earlier paid by the […] …