Bill on NSE restructuring passes second reading
Olubode Olusesan / 1 day ago


Leke Baiyewu, Abuja

A bill seeking to allow the re-registration and conversion of the Nigerian Stock Exchange from a company limited by guarantee to a public limited company by shares passed the second reading at the Senate on Tuesday.

Sponsor of the bill, otherwise called the De-mutualisation Bill, Senator Foster Ogola, said the NSE as currently constituted was not made to make profit.

Ogola, who is the Acting Chairman, Senate Committee on Capital Markets, said the proposed de-mutualisation of the exchange was an integral element of the 10-year Capital Markets Master Plan, meant to drive rapid growth of the market over the next decade.

The lawmaker said the proposed law would increase the value of the Exchange, enabling it to compete favourably in the global markets, open the doors for significant investment in Nigeria and enhance the nation’s capital market.

He stated, “The de-mutualisation of the Exchange will bring the Nigerian capital market at par with other international jurisdictions; result in enhanced governance, transparency and visibility, whilst attracting strategic partners, investors and good quality issuers.

“The approval of the de-mutualisation bill will generate substantial motivation for the development of an agile Exchange, thereby consolidating its innovativeness and strengthening its leadership both at local and international levels, as well as adding value to its stakeholders.

“As a de-mutualised entity that is profit-seeking, the NSE will be in a better stead to capitalise on new income opportunities, free from any limitations arising from conflicting member interests and existing laws, and more importantly be able to better support the economic growth of Nigeria.”

Supporting the bill, Senator Mao Ohuabunwa, said the de-mutualisation plan, when implemented, would give the NSE the ability to take a number of strengthening actions that would promote transparency and increase efficiency in its operations

“The de-mutualisation holds a number of significant benefits for Nigeria’s economy, including augmentation of Nigeria’s debt profile, increase capital raising capabilities, capital support for government initiatives, attraction of foreign and local investors, and assisting corporate and financial institutions to raise capital,” he said.

Copyright PUNCH.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

BullBearMkt:

...my style of entering of trade is not to pursue price making new highs, I would rather wait till it comes to the value zone on daily while the weekly is still actively bullish

.

Thank you

http://www.nse.com.ng/Financial_NewsDocs/18992_DANGOTE_FLOUR_-_HALF-YR_JUNE_2017_FINANCIAL_STATEMENTS_JULY_2017.pdf

stcool:
http://www.nse.com.ng/Financial_NewsDocs/18992_DANGOTE_FLOUR_-_HALF-YR_JUNE_2017_FINANCIAL_STATEMENTS_JULY_2017.pdf

Why you dey shine teeth for de- prof all in all.
wetin dey inside bro?

stcool:
http://www.nse.com.ng/Financial_NewsDocs/18992_DANGOTE_FLOUR_-_HALF-YR_JUNE_2017_FINANCIAL_STATEMENTS_JULY_2017.pdf

EPS(Q2) - N115.84

DeRuggedProf:


They would have done that at around N170 per share if they had gone ahead.
They waited for the meat to start rotting, like typical vultures do...
This stock will go back and cross the N100.80 52 weeks high once that offer is completed by August 30.
It is their way..CAPITALISM UPGRADED....

From my own understanding, the two events are not the same. Diageo position has still not changed, what they are doing now is taking up their rights which is different from initial plan of increasing their stake.

locodemy:


Why you dey shine teeth for de- prof all in all.
wetin dey inside bro?

For the earnest expectation...EPS(Q2) - N115.84

DeRuggedProf:


They would have done that at around N170 per share if they had gone ahead.
They waited for the meat to start rotting, like typical vultures do...
This stock will go back and cross the N100.80 52 weeks high once that offer is completed by August 30.
It is their way..CAPITALISM UPGRADED....

Vultures indeed.

stcool:

For the earnest expectation...EPS(Q2) - N115.84

make i release? Dont ask me what abeg......

holm:


EPS(Q2) - N115.84

Wow

I must stay to see all results released before venturing by sept/oct.
i am not a small pikin for stock market.

if i am tempted to buy anything now,it should be Afriprud.

I just hope Tritri have not sold his dangote flour to buy FBNH yesterday

locodemy:
I must stay to see all results released before venturing by sept/oct.
i am not a small pikin for stock market.

if i am tempted to buy anything now,it should be Afriprud.

But DFlour is not that bad...they could push higher after shaking off the fear. I think its just time they are ok.

This one everybody is keeping quiet,its like most of us are in Dangote flour.The only person i am pitying at this point is Tritri.He has lost so much this year.God why?

stcool:


But DFlour is not that bad...they could push higher after shaking off the fear. I think its just time they are ok.

Yes,sept/oct is the time not now for Dangote flour and others....

locodemy:
This one everybody is keeping quiet,its like most of us are in Dangote flour.The only person i am pitying at this point is Tritri.He has lost so much this year.God why?

locodemy:


Yes,sept/oct is the time not now for Dangote flour and others....

If no sellers until sept/oct...what would happen to price?

if i am tempted to buy anything now,it should be Afriprud.[/quote] Why Afriprud?

Oscar should post another result to dilute this Dangote Flour.

locodemy:


Yes,sept/oct is the time not now for Dangote flour and others....

Loco, reasons please.

chidivalour:
if i am tempted to buy anything now,it should be Afriprud.
Why Afriprud?

if you have a third eye,you will not ask me why.

stcool:

If no sellers until sept/oct...what would happen to price?

It MUST be available at btw 4.00- 4.30 by sept/oct.I say MUST. I dont need to know if there will be seller or not.

stcool:


But DFlour is not that bad...they could push higher after shaking off the fear. I think its just time they are ok.

DangFlour
opened higher, well above yesterday close ! GAP up !

FlourMill
- opened higher
- breaking N30

Zenith
- a weekly close above n26 desired

OBAGADAFFI:


Wow

Is this a joke??

fxuser:


DangFlour
opened higher, well above yesterday close ! GAP up !

FlourMill
- opened higher
- breaking N30

That should be what the stock/price is suppose to do now but not for old people like us but for the newbies who focuses on the rising of stock prices.
If anyone here will hear my voice,the same stock will be available at 4.00-4.30.
Lets watch and see.

fxuser:


DangFlour
opened higher, well above yesterday close ! GAP up !

FlourMill
- opened higher
- breaking N30

DangFlour
here comes d vol

Dangflour! Patience pays

locodemy:


That should be what the stock/price is suppose to do now but not for old people like us but for the newbies who focuses on the rising of stock prices.
If anyone here will hear my voice,the same stock will be available at 4.00-4.30.
Lets watch and see.

no P
for now ! i dont argue with a gap up , esp on above avg volume

fxuser:


DangFlour
here comes d vol

This guy.i love you.Na you guys sabi make money ontop newbies come back to bring it down for new entries.God have mercy o.