Fidelity to raise N22.6bn hybrid offer, NGX All-Share Index slips

Fidelity Bank, at the current share price ₦7.30 said it plans to raise its share capital to ₦22.6bn via a combination of a public offer and a rights issue. The bank said this on the floor of the NGX. However trading at the stock market slipped as the benchmark index closed 0.01% weaker to settle at 63,757.23 points. Gains in MTNN, GTCO and NB were offset by selloffs in ZENITHBANK, GEREGU and ACCESSCORP keeping the market in the negative terrain. As a result, the year-to-date (YTD) return slipped to 24.40%, while  market capitalisation shed by ₦5.17bn to close at ₦34.72trn.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 76.45%. A total of 473.49m shares valued at ₦10.08bn were exchanged in 7,403 deals. JAPAULGOLD (-1.23%) led the volume chart with 77.98m units traded while GEREGU (-10.00%) led the value chart in deals worth ₦4.86bn.

Market breadth closed negative at a 1.22-to-1 ratio with declining issues outnumbering advancing ones. GEREGU (-10.00%) topped twenty-one (21) others on the laggard’s log , while HONYFLOUR (+10.00%) led seventeen (17) others on the leader’s table.

Find below key highlights of market activities

Dividend Information for 2023