Home Finance MANSARD to be suspended for share reconstruction

MANSARD to be suspended for share reconstruction

by Business News Report

AXA Mansard Plc has notified the exchange and investing public of its share capital reconstruction from a nominal value of ₦0.50 per share to ₦2.00 per share. Consequently, the company’s shares will be suspended from trading on Thursday, September 9th, 2021 to allow the shareholders’ register to be updated with the reconstructed shares. Meanwhile trading at the Stock market, sell pressure on UACN (-0.5%), INTBREW (-4.0%), and GTCO (-2.0%) drove a negative performance on the local bourse. Consequently, the NGX All-Share Index declined by 12bps to 39,204.52 points, YTD loss slid to -2.6% while market capitalisation fell by ₦24.4bn to ₦20.4tn. Trading activity was mixed as volume traded fell by 0.5% to 354.1m units while value traded rose by 11.5% to ₦3.2bn. The most traded stocks by volume were FBNH (86.0m units), ACCESS (71.1m units), and UNIVINSURE (22.3m units) while ACCESS (₦671.3m), FBNH (₦640.9m), and GTCO (₦529.1m) led by value.

Performance was mixed across sectors under our coverage as 3 indices declined, 1 gained, while the AFR-ICT and Industrial Goods indices remained flat. The Oil & Gas index was the lone gainer, up 0.6% due to extended buying interest in OANDO (+3.2%). On the other hand, the Insurance index led the laggards, down 1.0% on the back of sell pressure on VERITASKAP (-8.7%) and MANSARD (-5.7%). Likewise, the Banking and Consumer Goods indices recorded losses, down 32bps and 8bps respectively as a result of price depreciation in GTCO (-2.0%), ZENITH (-0.8%), and INTBREW (-4.0%).

Investor sentiment, as measured by market breadth (advance/decline ratio), strengthened to 1.1x from 0.8x as 15 stocks advanced while 14 stocks declined. REGALINS (+8.5%), UNIVINSURE (+5.0%), and SOVRENINS (+4.2%) led the gainers while SCOA (-9.7%), VERITASKAP (-8.7%), and MANSARD (-5.7%) led the losers.

Market Statistics for Wednesday, 8th September 2021 

Market Cap (N’bn)20,426.2
Market Cap (US$’bn)49.7
NSE All-Share Index39,204.52
Daily Performance %(0.1)
WTD Performance %(0.1)
MTD Performance %0.0
QTD Performance %3.4
YTD Performance %(2.6)
Daily Volume (Million)354.1
Daily Value (N’bn)3.2
Daily Value (US$’m)7.8

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