The Nation Newspaper

Tag: NSE

  • NMRC lists N8b bond on NSE  

    NMRC lists N8b bond on NSE  

    The Nigeria Mortgage Refinance Company (NMRC) last week listed its N8 billion bond on the Nigerian Stock Exchange (NSE).  The 15-year bond with an interest rate of 14.9 per cent and a maturity date of July 29, 2030 was issued under the company’s N140 Billion Medium Term Note Programme. NMRC is licensed by the Central Bank of Nigeria to conduct mortgage refinancing business in Nigeria.

    To engender market confidence in the credit standing of NMRC as a bond issuing entity and enhance access to the capital markets, the bond is backed by a guarantee of the Federal Government of Nigeria (FGN Guarantee) and has been accorded public national scale long-term rating of AAA (NG) (sf) by Global Credit Rating Company. In addition, the bond was priced at a spread of 64 basis points above the comparable FGN Bonds.

     

     

     

  • NSE, brokers pick May & Baker as stock to watch for sustainable growth

    May & Baker Nigeria Plc has sustainable growth potential and its fundamentals and investments have positioned it to deliver better returns in the medium to long term.

    This was the assessment of top management and dealers at the Nigerian Stock Exchange (NSE) who undertook a factory tour of May & Baker Nigeria’s manufacturing complex in Ota, Ogun State. The manufacturing complex includes May & Baker Nigeria’s World Health Organisation (WHO)-certified pharmaceutical manufacturing plant, otherwise known as The Pharma Centre.

    May & Baker Nigeria’s share price recorded the highest gain last week at the NSE, rising by 10.64 per cent to close at N1.04 per share. The benchmark index at the NSE, the All Share Index (ASI), indicated a week-on-week average gain of 0.05 per cent.

    Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr Oscar Onyema led the team of the leadership of the Nigerian stock market, which included president, Association of Stockbroking Houses of Nigeria (ASHON), Mr Emeka Madubuike and Doyen of Stockbrokers, Mr. Sam Ndata.

    Onyema said May & Baker Nigeria has taken a long-term view of development by its investments in the Ota manufacturing complex noting that such long-term view guarantees sustainable growth.

    “Another thing that impresses me about the company is that most quoted companies want to see their share price do well. They want short-term gain. So they take a shorter view to investing. But the company has done the opposite. It takes a long-term view which, in my opinion, is more sustainable,” Onyema said.

    He said the current share price of the company belied its earnings potential and reflected the downturn in the national economy and the stock market.

    “We commend you for the diversification of your business and for the long term investment strategy. The low price of your share is reflective of the general condition of the Nigerian economy. Be assured that your share price will go up once the economy picks up. This is because the company has good fundamentals, like your price earnings ratio is a good indicator to show that the company has bright future,” Onyema said.

    He said the factory tour has given the market opportunity to get acquainted with the challenges the company is facing, the opportunities before it and its expectations for the future, adding that he was fascinated by the diversification as well as the long-term nature of May & Baker Nigeria’s vision.

    Onyema said the company should consider a combination of bond and equity issue as it seeks to raise fresh fund to bolster its operations and deleverage its balance sheet.

    Madubuike said May & Baker Nigeria is a stock for investors that seek stable and sustainable returns on investments.

    According to him, May & Baker Nigeria will make a lot of progress with its investments and it is one of the companies for the future.

    Ndata praised the management of May & Baker Nigeria and urged them to interact more with the investing public in order to give them better understanding of the prospects of the company.

    “It is a stock for the future, it is best to buy now that the price is low, anybody that buys now will be smiling to the bank later,” Ndata said.

    Managing Director, May & Baker Nigeria Plc, Mr. Nnamdi Okafor, said the share price of the company does not reflect its fundamental values and recent investments, including its position as one of the four pharmaceutical companies certified by the WHO as having current general manufacturing practices.

    “May & Baker Nigeria has potentials as a strong Sub-Saharan African brand. A country with huge population of over 188.6 million people; biggest economy in Africa; strong Gross Domestic Product growth rate of 6.5  per cent in 2014 to 4.0 per cent in 2016 and vibrant workforce with emerging middle class, has a lot to benefit from the success of this our great company,” Okafor said.

    He noted that the pharmaceutical business contributes 70 per cent of the company’s revenue and recapitalisation of the business would improve its ability to compete in current and planned businesses.

  • NSE, brokers pick May & Baker as stock to watch for sustainable growth

    May & Baker Nigeria Plc has sustainable growth potential and its fundamentals and investments have positioned it to deliver better returns in the medium to long term.

    This was the assessment of top management and dealers at the Nigerian Stock Exchange (NSE) who undertook a factory tour of May & Baker Nigeria’s manufacturing complex in Ota, Ogun State. The manufacturing complex includes May & Baker Nigeria’s World Health Organisation (WHO)-certified pharmaceutical manufacturing plant, otherwise known as The Pharma Centre.

    May & Baker Nigeria’s share price recorded the highest gain last week at the NSE, rising by 10.64 per cent to close at N1.04 per share. The benchmark index at the NSE, the All Share Index (ASI), indicated a week-on-week average gain of 0.05 per cent.

    Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr Oscar Onyema led the team of the leadership of the Nigerian stock market, which included president, Association of Stockbroking Houses of Nigeria (ASHON), Mr Emeka Madubuike and Doyen of Stockbrokers, Mr. Sam Ndata.

    Onyema said May & Baker Nigeria has taken a long-term view of development by its investments in the Ota manufacturing complex noting that such long-term view guarantees sustainable growth.

    “Another thing that impresses me about the company is that most quoted companies want to see their share price do well. They want short-term gain. So they take a shorter view to investing. But the company has done the opposite. It takes a long-term view which, in my opinion, is more sustainable,” Onyema said.

    He said the current share price of the company belied its earnings potential and reflected the downturn in the national economy and the stock market.

    “We commend you for the diversification of your business and for the long term investment strategy. The low price of your share is reflective of the general condition of the Nigerian economy. Be assured that your share price will go up once the economy picks up. This is because the company has good fundamentals, like your price earnings ratio is a good indicator to show that the company has bright future,” Onyema said.

    He said the factory tour has given the market opportunity to get acquainted with the challenges the company is facing, the opportunities before it and its expectations for the future, adding that he was fascinated by the diversification as well as the long-term nature of May & Baker Nigeria’s vision.

    Onyema said the company should consider a combination of bond and equity issue as it seeks to raise fresh fund to bolster its operations and deleverage its balance sheet.

    Madubuike said May & Baker Nigeria is a stock for investors that seek stable and sustainable returns on investments.

    According to him, May & Baker Nigeria will make a lot of progress with its investments and it is one of the companies for the future.

    Ndata praised the management of May & Baker Nigeria and urged them to interact more with the investing public in order to give them better understanding of the prospects of the company.

    “It is a stock for the future, it is best to buy now that the price is low, anybody that buys now will be smiling to the bank later,” Ndata said.

    Managing Director, May & Baker Nigeria Plc, Mr. Nnamdi Okafor, said the share price of the company does not reflect its fundamental values and recent investments, including its position as one of the four pharmaceutical companies certified by the WHO as having current general manufacturing practices.

    “May & Baker Nigeria has potentials as a strong Sub-Saharan African brand. A country with huge population of over 188.6 million people; biggest economy in Africa; strong Gross Domestic Product growth rate of 6.5  per cent in 2014 to 4.0 per cent in 2016 and vibrant workforce with emerging middle class, has a lot to benefit from the success of this our great company,” Okafor said.

    He noted that the pharmaceutical business contributes 70 per cent of the company’s revenue and recapitalisation of the business would improve its ability to compete in current and planned businesses.

  • NSE scores GTI Securities high on operating standards

    The Nigerian Stock Exchange (NSE) has awarded GTI Securities Limited the highest rating under its verification scheme for market operators that have the prerequisite resources to compete effectively, otherwise known as Minimum Operating Standards (MOS).

    The NSE had introduced the MOS in April 2014 as part of efforts to develop a stronger, stable and sustainable capital market. The MOS are a set of standards prescribed by the Exchange for dealing members to develop robust controls; strong governance framework and effective human capital that will enable them achieve best-in-class operations in order to compete on a global level for the benefit of investors and the Nigerian capital market.

    The main objective of the MOS is to ensure effective operational, technological and governance structures among the dealing members of the Exchange.

    Managing director, GTI Securities, Mr Amos Aledare, at the weekend, said the verification team of the Exchange for the MOS scored the securities firm high on all benchmarks.

    “We are delighted to inform you that GTI Securities Limited has rightfully received the maximum score of five out of five in the recently concluded inspection exercise carried out by the NSE. The five broad areas covered under the MOS exercise were manpower & equipment; organizational structure and governance; effective processes; technology and global competitiveness,” Aledare said.

    He said the score was an acknowledgement of the securities firm’s contribution to technological drive and innovation in the industry.

    According to him, the 100 per cent compliance status of GTI Securities shows its commitment to excellence in service delivery and its determination to revolutionize the trading environment.

    He assured the investing public that the company would continue to explore opportunities to open up greater world of financial possibilities for its clients.

    Commenting on the rationales for the new standards, head, legal and regulation division, Nigerian Stock Exchange, Ms Tinuade Awe, had said the new minimum operating standards were meant to complement the tremendous transformation that the market had undergone in recent years and to extend these forward-moving traits to the dealing members.

    According to her, the objective of the minimum operating standards is to transform the operators into more competitive and compliant operators.

     

     

  • Expert faults Stock Exchange on new trading platform

    Expert faults Stock Exchange on new trading platform

    A financial expert, Mr Okechukwu Unegbu, has faulted the online trading platform, `Smart Trade’, recently launched by the Nigerian Stock Exchange (NSE).

    Unegbu, a former President of Chartered Institute of Bankers of Nigeria (CIBN), spoke in an interview with the News Agency of Nigeria (NAN) in Lagos on Thursday.

    He said that the NSE should have embarked on sensitisation of investors before launching the application.

    According to him, the concept is good, but a tall order for Nigerian environment due to its peculiarity.

    Unegbu said that NSE should have embarked on nationwide sensitisation to enlighten investors before launching the online trading platform.

    “We are not in the U.S. and even, it is not everybody that can use online application to transact business,” he said.

    The expert urged the NSE to concentrate on manual trading, rather than the new platform, stressing that erratic power supply was still a major problem in Nigeria.

    He said that the exchange should also strengthen its investor education strategy to win more investors back to the market.

    According to him, the market is still battling from the loss of confidence due to the 2008 global financial meltdown.

    Unegbu advised market regulators to pursue policies that would enhance investor confidence in the market instead of concentrating on regulatory policies in the name of capitalisation and minimum operating standard.

    NAN reports that NSE, had on Nov. 18, launched the online trading platform aimed at increasing the number of retail investors to 25 million from its current five million.

    The platform was launched in conjunction with four stock broking firms of Investment One, CSL, GTI and Meristem Securities.

    The platform is to provide users with real-time market information to analyse the market trend.

  • Lafarge, NSE promote best practices in construction industry

    Lafarge, NSE promote best practices in construction industry

    In furtherance of its commitment towards enhancing global best practices in the application of its products, Lafarge Africa Plc has partnered the Nigerian Society of Engineers (NSE) to build the capacity of stakeholders on best practices in the application of the product for construction.

    Indeed, the Lafarge explained that while it has continued to explore innovative solutions through product development, efforts are being sustained to ensure that such solutions are not misapplied and abused.

    Speaking at a technical session and capacity building programme for engineers in Ibadan, Oyo State, Country Head, Infrastructure and Key Accounts, Lafarge Africa, Mike Fisher emphasised the need for Nigerian professionals to adopt best practices in the construction industry.

    According to him, adhering to specified requirements is key in the construction industry, adding that durability and return on investments should equally be assessed when considering infrastructural development.

    “We are not commodity traders but solutions providers as we continually engage stakeholders across the spectrum and at various stages of project development. One of the areas we are addressing is the environment where the products are being applied. Sulphates and chlorides attacks are being addressed using innovative solutions in our products,” he added.

    On his part, General Manager, Independent Power Projects, Lafarge Africa, Lanre Opakunle, explained that the company is exploring new solutions to meet the needs of the environment.

    “We consider engineers as a major stakeholder in the construction industry and that is why we are engaging them on how best to apply our products. The construction industry is evolving and various factors are being considered when erecting a structure. The social impact, energy conservation, concrete requirements, lifespan, exposure to environment are some of the major issues being considered today.

    “Our research and development centre is exploring new products to meet some environmental needs. We are also improving the emissions from the use of the product with a view to addressing health and safety issues. Adopting best practices is expected to aid long term cost saving measures and sustainability rather than going through short cuts,” he added.

    Technical Secretary, Nigerian Society of Engineers (NSE) Ibadan branch, Adekunle Olaoye noted that the capacity building initiative will further address the challenges in the construction industry.

    “Cement is an engineering material and its application needs to be addressed. Various issues need to be addressed through effective capacity building for stakeholders,” he added.

     

  • Firms, NSE woo investors with mobile trading

    Firms, NSE woo investors with mobile trading

    Four technologically advanced stockbroking firms and the Nigerian Stock Exchange (NSE) have launched an initiative to step up the use of mobile online trading portals for transactions at the stock market. The four stockbroking firms, which included GTI Securities, Investment One Stockbroking International Limited, Meristem Securities and CSL Stockbrokers, had earlier launched mobile trading portals. Capital Bancorp Plc also has online trading portal.

    The new initiative, tagged: “Smart Trade”, being coordinated by the NSE was meant to rally the stock market behind the mobile online trading, standardise and unify the platform and further provide regulatory support for the individual stockbroking firm’s efforts.

    At the launch of the initiative at the Exchange in Lagos, executive director, market operations and technology, Nigerian Stock Exchange (NSE), Ade Bajomo said online and mobile stockbroking have potentials to tremendously improve the depth of the Nigerian capital market by widening investors’ base.

    According to him, from the current retail trading investors’ base of five million, the stock market could leverage on increasing mobile and internet usage in Nigeria to grow retail investors’ base to some 25 million, which will create a win-win situation for all stakeholders.

    Bajomo said the online platform would enable investors to buy and sell stocks on the Exchange with real-time processing functionality, adding that the platform would also enhance financial inclusion, transparency and market integrity as it gives investors greater control over their investment decisions.

    He said the platform would provide users real-time market data with availability of various technical indicators to analyse the trend and momentum of the market, thus enabling investors to make informed decisions based on the latest data.

    He assured that the online portal was made up of world-class technology with robust client data protection and security framework to give clients a seamless experience when processing transaction.

    Managing director, GTI Securities, Amos Aledare, said the stockbroking firm has put in place adequate arrangements to ensure hitch-free operation of its online trading portal.

    Managing Director, Investment One Stockbroking International Limited, Mr Oluwole Awe, said the initiative would move the market to the next level, assuring that stockbrokers would support the initiative to achieve the desired result.

    “The platform has a robust security features, which are well articulated to ensure that investors trades and accounts are not compromised. This platform will enable our client make their stockbroking portfolios on mobile devices tablets, laptops and desk top computers,” Bajomo said.

    He outlined that the mobile online trading initiative would ride on the back of full dematerialisation and the direct cash settlement to create a seamless experience for investors.

    The direct cash settlement initiative will require complete documentation and reconciliation of investor information, holdings, contact details and bank account details.

    According to him, while full dematerialisation is being implemented, the direct cash settlement initiative would be simultaneously implemented, leveraging on the progress made from putting into operation the dematerialisation processes.

    “Direct implication of this initiative would be increased investor control, which in turn would translate to increased investor confidence, improved levels of financial inclusion and surge in trading volumes,” Bajomo said.

     

  • Firms, NSE woo investors with mobile trading

    Firms, NSE woo investors with mobile trading

    Four technologically advanced stockbroking firms and the Nigerian Stock Exchange (NSE) have launched an initiative to step up the use of mobile online trading portals for transactions at the stock market. The four stockbroking firms, which included GTI Securities, Investment One Stockbroking International Limited, Meristem Securities and CSL Stockbrokers, had earlier launched mobile trading portals. Capital Bancorp Plc also has online trading portal.

    The new initiative, tagged “Smart Trade”, being coordinated by the NSE was meant to rally the stock market behind the mobile online trading, standardize and unify the platform and further provide regulatory support for the individual stockbroking firm’s efforts.

    At the launch of the initiative at the Exchange in Lagos yesterday, executive director, market operations and technology, Nigerian Stock Exchange (NSE), Ade Bajomo said online and mobile stockbroking has potential to tremendously improve the depth of the Nigerian capital market by widening investors’ base.

    According to him, from the current retail trading investors’ base of five million, the stock market could leverage on increasing mobile and internet usage in Nigeria to grow retail investors’ base to some 25 million, which will create a win-win situation for all stakeholders.

    Bajomo said the online platform would enable investors to buy and sell stocks on the Exchange with real-time processing functionality adding that the platform would also enhance financial inclusion, transparency and market integrity as it gives investors greater control over their investment decisions.

    He said that the platform would provide users real-time market data with availability of various technical indicators to analyse the trend and momentum of the market, thus enabling investors to make informed decisions based on the latest data.

    He assured that the online portal was made up of world-class technology with robust client data protection and security framework to give clients a seamless experience when processing transaction.

    Managing director, GTI Securities, Amos Aledare, said the stockbroking firm has put in place adequate arrangements to ensure hitch-free operation of its online trading portal.

    Managing director, Investment One Stockbroking International Limited, Mr Oluwole Awe, said the initiative would move the market to the next level, assuring that stockbrokers would support the initiative to achieve the desired result.

    “The platform has a robust security features which is well articulated to ensure that investors trades and accounts are not compromised. This platform will enable our client make their stockbroking portfolios on mobile devices tablets, laptops and desk top computers,” Bajomo said.

    He outlined that the mobile online trading initiative would ride on the back of full dematerialization and the direct cash settlement to create a seamless experience for investors.

    The direct cash settlement initiative will require complete documentation and reconciliation of investor information, holdings, contact details and bank account details.

    According to him, while full dematerialization is being implemented, the direct cash settlement initiative would be simultaneously implemented, leveraging on the progress made from putting into operation the dematerialization processes.

    “Direct implication of this initiative would be increased investor control, which in turn would translate to increased investor confidence, improved levels of financial inclusion and surge in trading volumes,” Bajomo said.

     

  • NSE to govts: engage local engineers

    The chairman of the Oyo State chapter of the Nigeria Society of Engineers (NSE), Mr. Bola Olowe,  has called on  governments at all levels to engage Nigerian engineers in their projects.

    He argued that the local professionals are equally good as their foreign counterparts.

    Speaking at the 21st Lawrence Arokodare Memorial lecture, with the theme: “Commitment of engineering into the hands of stakeholders: A catalyst for national development and improved living standards,,” Olowe condemned previous administrations, engaging foreign firms at the expense of indigenous professionals.

    He said to ensure a smooth take-off of the Sustainable Development Goals (SDGs), and improve the standard of living in the country, governments at all levels must stop patronising foreign experts.

    To Olowe, if governments and other stakeholders patronise local engineers, the nation can leapfrog into the league of developed nations and reduce capital flight to the barest minimum.

    Olowe  urged governments to  make deliberate decisions to ensure that indigenous engineers are patronised and given opportunities to handle engineering development projects.

  • Buhari lauds engineers’ contributions to national development

    Buhari lauds engineers’ contributions to national development

    President Muhammadu Buhari on Tuesday attributed his victory in the March 28 presidential election to transparent electoral process brought about by advanced technology.

    Buhari said this while declaring open this year’s National Engineering Conference and Annual General Meeting of the Nigerian Society of Engineers (NSE) held in Akure, Ondo State.

    He said the commitment of Nigerian Engineers to technological advancement led to transparent electoral process which produced him as winner of the election.

    Represented by the Secretary to the Government of the Federation (SGF), Engr. David Lawal, President Buhari noted that the commitment of Nigerian engineers to national development through technological innovations and improvement could not be overemphasized.

    He said the achievements of the Independent National Electoral Commission (INEC) in the conduct of the last general election were made possible by the commitment of Nigerian engineers to transparent electoral process.

    The President urged engineers in the country to continue to inculcate professional integrity in their practice, stressing that the country has the potential to produce world class engineers.