Nigerian Stock Exchange as at 09/08/07
August 10th, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
The exchange continued with a beehive of activities, as share prices continued the usual rise and fall process.There were some key happenings however that took place, which is highlighted below.
Today, an additional 108,428,571 ordinary shares were listed to the shares outstanding in the name of UBA Plc following the conversion of US $18M convertible stock loan granted to the Bank by PAID-PCAP SUB2 Limited.
Also, the share price of NAHCO Plc was placed on technical suspension following the receipt of an application for an Offer for Sale at N17.50 and Right Issue at N16.50k per share.The company also released its half year result for the period ended June 30, 2007.
In the result, turnover increased from N1.58 billion in 2006 to N1.66 billion in 2007. Profit before tax went from N299 million to N350 million in 2007, while profit after tax increased from N203 million in 2006 to N238 million in 2007.
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