Stanbic IBTC Bank delists from NGX, All-Share Index crosses 70,000 points, up 1.94%

Stanbic IBTC Bank has ceased to be a public company, its parent company, Stanbic IBTC Holdings Plc, has said. In a notice to the Nigeria Exchange Limited (NGX) and the Investing Public, IBTC holdings said Stanbic IBTC Bank had been re-registered as a private limited liability company. “Stanbic IBTC Holdings Plc hereby notifies the Nigeria Exchange Limited and the Investing Public that following the receipt of all required regulatory and shareholders’ approvals, the re-registration of our Banking subsidiary – Stanbic IBTC Bank (the Bank) from a public company limited by shares to a private company limited by shares has been concluded. Meanwhile the Lagos exchange maintained the bullish run as the benchmark index closed 1.94% stronger to settle at 70,581.76 points, the highest level in history. 

Sustained gains in index heavyweight, AIRTELAFRI (+10.00%), alongside Tier-1 banks ZENITHBANK (+3.77%) and GTCO (+1.72%) drove the market’s strong performance. As a result, the year-to-date (YTD) return rose to 37.72%, with the market capitalisation up by ₦739.26bn to close at ₦38.78trn. Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 82.25%. A total of 601.73m shares valued at ₦11.02bn were exchanged in 7,444 deals. UBA (+0.48%) led the volume and value charts with 163.56m units traded in deals worth ₦3.47bn. Market breadth closed positive at a 2.64-to-1 ratio with advancing issues outnumbering declining ones. AIRTELAFRI (+10.00%) led twenty-eight (28) others on the leader’s log while CHAMPION (-6.85%) topped ten (10) others on the laggard’s table.

Find below key highlights of market activities

Dividend Information for 2023

Source: Coronation