Home Finance Preline completes acquisition of 60.98% stake in ETERNA

Preline completes acquisition of 60.98% stake in ETERNA

by Business News Report

Eterna oil said at the floor of the Exchange that the acquisition of 794,969,774 (60.98%) equity stake by Preline Limited as part of the divestment process of six of its substantial shareholders is completed. At today trading, price uptick in FBNH (+1.4%), ACCESS (+1.1%), HONYFLOUR (+7.5%) and ETERNA (+10.0%) buoyed positive performance as the All-Share index rose 7bps to close at 39,477.18 points. Nevertheless, YTD loss remained unchanged at -2.0% while market capitalisation inched higher by ₦14.3bn to ₦20.6tn. Trading activity was mixed as volume traded fell 5.6% to 186.3m units while value traded rose 70.1% to ₦1.8bn. The most traded stocks by volume were SOVRENINS (19.7m units), WAPCO (17.4m units), and HONYFLOUR (15.0m units) while MTNN (₦496.7m), WAPCO (₦382.4m), and GTCO (₦147.2m) led by value.

Across sectors under our coverage, performance was mixed as 3 indices gained while the AFR-ICT, Industrial and Consumer Goods indices closed flat. The Insurance index led gainers, up 2.3% due to buying interest in AIICO (+8.4%), WAPIC (+2.0), and MANSARD (+1.2%). Similarly, the Oil & Gas and Banking indices rose 0.2% and 0.1% respectively due to gains in ETERNA (+10.0%), ACCESS (+1.1%), and FBNH (+1.4%). 

Investors sentiment, as measured by market breadth (advance/decline ratio), strengthened to 2.2x from 0.8x recorded yesterday as 26 stocks advanced while 12 stocks declined. ETERNA (+10.0%), AIICO (+8.4%), and GLAXOSMITH (+7.9%) led the gainers while IKEJAHOTEL (-10.0%), SCOA (-9.4%), and ABCTRANS (-8.3%) led the losers. 

Market Statistics for Thursday, 26th August 2021 

Market Cap (N’bn)20,568.3
Market Cap (US$’bn)50.0
NSE All-Share Index39,477.18
Daily Performance %0.1
WTD Performance %0.0
MTD Performance %2.4
QTD Performance %4.1
YTD Performance %(2.0)
Daily Volume (Million)186.3
Daily Value (N’bn)1.8
Daily Value (US$’m)4.4.

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