ASI gains 62bps, investors reap N3.42 trn, Aradel Holdings listed on the main board

Today, Aradel Holdings Plc was listed on the main board of the Nigerian Stock Exchange (NGX), offering 4.32b shares at N702.69 per share. This listing brings the company’s market capitalisation to N3.1trn. The company recently acquired 100.0% of the Olo and Olo West marginal oil fields in Nigeria. This acquisition was made through a sale and purchase agreement with TotalEnergies and the Nigerian National Petroleum Corporation Limited (NNP(L). The deal is valued at $16.0m, with additional deferred and conditional payments totalling $3.5 million. The Stock Market started the week bullish, as the benchmark index gained 62bps to close at 98,215.13 points. Gains in GTCO (+1.84%), ZENITHBANK (+0.13%), and FBNH (+0.96%) offset selloffs in ACCESSCORP (-0.51%), FIDELITYBK (-0.68%) and STERLINGNG (-3.61%). Accordingly, the ASI year-to-date return increased to 31.35%, while the market capitalisation gained ₦3.42trillion to close at ₦59.51trillion
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 251.96%. A total of 304.97million shares valued at ₦19.71 billion were exchanged in 8,083 deals. CUTIX (-3.09%) led the volume chart with 37.93m units traded, while ZENITHBANK led the value chart  in deals worth ₦1.28billion. Market breadth closed negative at a 0.58-to-1 ratio with declining issues outnumbering the advancing ones. VITAFOAM (-9.09%) topped thirty (30) others on the laggard’s table, while WAPIC (+10.00%) led seventeen (17) others on the leader’s log.

Find below key highlights of market activities.

Dividend Information for 2024

Company	Dividend (Bonus)	Closure Date	Payment Date
BUAFOODS	₦5.50	20-Aug-24	26-Sep-24
BUACEMENT	₦2.00	12-Aug-24	29-Aug-24
FBNH	₦0.40	15-Aug-24	23-Aug-24
AIRTELAFRI	$0.037	24-Jun-24	26-Jul-24
BETAGLAS	₦1.4	25-Jun-24	6-Jul-24
FIDSON	₦0.6	19-Jun-24	6-Jul-24
TOTAL	₦25.00	24-Apr-24	24-Jun-24
UACN	₦0.22	7-Jun-24	21-Jun-24
JBERGER	₦3	3-Jun-24	21-Jun-24
TRANSEXPR	₦0.02	12-Jun-24	20-Jun-24
SEPLAT ENERGY	$0.03 ( Q1 INTERIM)	3-Jun-24	14-Jun-24
MAYBAKER	₦0.3	22-May-24	6-Jun-24
PRESCO	₦24.30	15-May-24	30-May-24
SEPLAT ENERGY	$0.03	29-Apr-24	29-May-24
TRANSCORP	₦0.10	26-Apr-24	28-May-24
WEMA	₦0.5	10-May-24	28-May-24
MEYER	₦0.3	29-Apr-24	27-May-24
UBA	₦2.30	13-May-24	24-May-24
NAHCO	₦2.56	13-May-24	24-May-24
TRANSPOWER	₦3.13	22-Apr-24	22-May-24
STANBIC	₦2.20	22-Apr-24	17-May-24
FIDELITYBK	₦0.60	29-Apr-24	16-May-24
UNILEVER	₦0.75	29-Apr-24	10-May-24
GTCO	₦2.70	29-Apr-24	9-May-24
ZENITHBANK	₦3.50	26-Apr-24	8-May-24
DANGCEM	₦30.00	16-Apr-24	29-Apr-24
UCAP	₦1.80	10-Apr-24	23-Apr-24
ACCESSCORP	₦1.80	11-Apr-24	19-Apr-24
TRANSCOHOT	₦0.20	16-Apr-24	30-Apr-24
LAFAERGE	₦1.90	2-Apr-24	16-Apr-24
NGXGROUP	₦0.75	27-Mar-24	29-Apr-24
GEREGU	₦8.00	28-Feb-24	28-Mar-24
VITAFOAM	1.56	13-Feb-24	7-Mar-24

Source: Coronation Research