Stanbic Africa Ltd. has increased its shareholding in Stanbic IBTC by 11.35 per cent from 53.09 per cent to 64.44 per cent following a transaction that was consummated on the Nigerian Stock Exchange (NSE) on Thursday.
The News Agency of Nigeria (NAN) reports that the transaction impacted the shares of Stanbic IBTC, emerging the most traded with 1.15 billion worth N61.64 billion traded.
Chidi Okezie, the bank’s Company Secretary, in a notification to the exchange, said Stanbic Africa Holdings (a subsidiary of Standard Bank Group and parent company of Stanbic IBTC Holdings) recently acquired the 1.14 billion shares.
Okezie said the shares were acquired in an “Off-Market” transaction bringing the total percentage shareholding of Stanbic Africa Holdings to 64.44 per cent.
Further analysis of the activity on the stock exchange indicated that Zenith Bank accounted for 127.19 million shares valued at N3.26 billion.
Guaranty Trust Bank traded 74 million shares worth N3.01 billion, while United Bank for Africa sold 65.56 million shares valued at N700.76 million.
Sterling Bank also exchanged 29.80 million shares worth N36.33 million.
In spite of the growth in activity chart, the market indices dropped further by 1.30 per cent with the All-Share Index losing 501.87 points to close at 38,104.54 against 38,606.41 on Wednesday.
Also, the market capitalisation which opened at N13.984 trillion shed N182 billion or 1.30 per cent to close at N13.802 trillion.
Nestle for the second consecutive day led the losers’ table, shedding N67.50 to close at N1,472.50 per share.
Okomu Oil Palm trailed with a loss of N5 to close at N80, while International Breweries declined by N4.75 to close at N44.50 per share.
Forte Oil also went down by N3.70 to close at N37, while Dangote Cement lost N2.50 to close at N240 per share.
On the other hand, Seplat led the gainers’ table during the day, appreciating by N8.50 to close at N743.20 per share.
Cement Company of Northern Nigeria followed with a gain of N2.45 to close at N26.65, while Unilever gained N2.45 to close at N51.45 per share.
FBN Holdings appreciated by 55k to close at N10.15, while Dangote Sugar Refinery added 45k to close at N17.45 per share.
In all, investors bought and sold 1.62 billion shares valued at N71.19 billion achieved in 5,166 deals against 342.05 million shares worth N4.74 billion in 5,057 deals on Wednesday.