Connect with us

BUSINESS

SEC approves 15 new securities worth N154.62bn in Q3

Published

on

Oando saga: Operators seek FG intervention, laud SEC’s audit outcome

The Securities and Exchange Commission (SEC) approved new securities worth N154.62 billion in the third quarter of 2019.

The commission disclosed this in its current Nigerian Journal of Securities Market obtained by our reporter in Lagos on Monday.

A breakdown of the figure showed that a total of 15 new securities were approved during the period under review.

These, according to SEC, consist of three right issues, one private placement, one offer for subscription, five new offers for registration and five corporate bonds.

The commission noted that this was contrary to one right issue, six new offers for registration and three corporate bonds valued at N123.5 billion approved in the second quarter.

It added that a total of nine Federal Government bonds valued at N201.86 billion were allotted by the Debt Management Office (DMO) during the period.

The commission explained that the figure was inclusive of allotments done on non-competitive basis.

“While equal number of bonds were issued in Q2 2019, the amount allotted was N305.55 billion, indicating a decline of 33.93 per cent in value of bonds issued in Q3,” it said.

The commission stated that total number of new issues during the period under review stood at 24, while total value stood at N356.48 billion.

On secondary market issue, SEC said that a total of 13.87 billion shares valued at N177.02 billion were sold at the Nigerian Stock Exchange (NSE) in Q3.

It explained that this was lower when compared with 25.52 billion shares worth N329.61 billion recorded in Q2, indicating depreciation of 46.29 per cent in value.

An analysis of Federal Government bonds indicated that trading value dropped to N287.24 million from N998.51 million in Q2.

Transaction volume and value of Exchange Traded Funds (ETF) also fluctuated throughout the quarter under review.

Specifically, 2.13 million units of ETF valued at N57.37 million exchanged hands in Q2, while it closed with the sale of 174.94 thousand units at N13.76 million.

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

Comments
NIGERIA DECIDES

NIGERIA DECIDES

Shell Digital Plan RESPONSIVE600x750
Shell Digital Plan RESPONSIVE600x750
GTB
JoinOurWhatsAppChannel