Govts, companies raise N53.48bn from NSE bonds market

Some state governments and quoted companies raised N53.48 billion from the bonds market of the Nigerian capital market in the first seven months of 2014.

Analysis of bonds transactions between January and July in Lagos showed that N15.08 billion was raised through corporate bonds, while N38.4 billion was by government bonds.

An analysis of the bond further showed that Dana Group of Companies during the period under review raised N4.5 billion through a

Investors may lose N74bn as NSE moves to delist 21 firms

Not less than N74.855 billion will be lost by investors in the Nigerian capital market when the Nigerian Stock Exchange, NSE, finally delists about 21 quoted companies from its Daily Official List in the next two months.

If all the 21 companies are finally delisted, they will bring the total number of companies delisted from the NSE due to regulatory action to 38 in four years (2010 – 2014), and would have resulted in massive depletion in the market capitalisation.

Meanwhile, shareholders of the companies marked for delisting have kicked against the move, saying that non-submission of quarterly or yearly financial accounts by quoted companies could be a ploy by those that want to exit the market to force the NSE to delist them on its own, thereby escaping the rigours of delisting process, which they claim is cumbersome.

The Exchange had late last month revealed