@POLITICSNGR

Diamond Bank Plc dominated trading activities on the Nigerian Stock Exchange (NSE) on Monday, following its acquisition by Access Bank Plc.

PoliticsNGR learned that the bank exchanged 70.98 million shares worth N72.64 million in 129 deals.

Mr Ambrose Omordion attributed the development to the bank’s official acquisition by Access Bank.

Omordion said that the business combination was a good deal for Diamond Bank shareholders as the bank would pay N1 per share plus two units of Access Bank for every seven units of Diamond Bank shares.

“For instance, if you had 10,000 units of Diamond Bank shares, you will get N10,000 and 2,857 units of Access Bank shares.

“This is a good deal for holders of Diamond bank shares. But investors need to confirm what the cut-off date will be,” he said.

Mansard Insurance followed with an account of 20.03 million shares, valued at N40.06 million in eight deals, while FBN Holdings traded 16.52 million shares worth N120.19 million in 175 deals.

Access Bank sold 13.62 million shares, valued at N180. 55 million transacted in 254 deals, while Trancorp exchanged 12.29 million shares worth N14.18 million traded in 108 deals.

An analysis of the price movement table showed that Cement Company of Northern Nigeria led the gainers’ table, gaining N1.45 to close at N17.15 per share.

Access Bank followed with a gain of 70k to close at N8.15, while International Breweries gained 50k to close at N30.50 per share.

Flour Mills increased by 45k to close at N21, while Fidson Healthcare added 35k to close at N4.95 per share.

On the other hand, CAP recorded the highest loss, dropping by N2.40 to close at N34.85 per share.

Forte Oil trailed with a loss of N2.40 to close at N21.70, while Guaranty Trust Bank declined by 95k to close at N34.05 per share.

Unilever dipped 85k to close at N38.05, while Lafarge Africa was down by 50k to close at N11.95 per share.

Specifically, the All-Share Index, which opened at 30,681.50, shed 73.44 points or 0.24 per cent to close at 30,608.06.

Also, the market capitalisation closed lower at N11.180 trillion, shedding N26 billion compared with N11.206 trillion on Friday.

https://politicsngr.com/diamond-bank-dominates-nigerian-stock-exchange/

“For instance, if you had 10,000 units of Diamond Bank shares, you will get N10,000 and 2,857 units of Access Bank shares.

Blessings in disguise. These are great deals, meeehn.

Offloading??

Wetin done cast done cast o.

This

Guys above r Jobless youth

I don't understand all these, can somebody tell me what this Access bank is that I don't know Before we all thought Intercontinental was the grand bank for BIG men and access just took it over and sacked over 1000 workers, now they have taken over (nothing like merger o) a whole diamond bank. I am not understanding

Happy birthday to my wonderful and amiable President.... May God continue to safeguard u....and gv u the strength to continue the gud work u av started... and may he put all ur haters to shame...the Igbos

As expected

Emeka Dozie has killed his father's legacy

Sad indeed

What do you expect when his father was paying the house rent of a man in his late thirties

What a useless son Sir Pascal Dozie has Indeed

R

When Diamond bank stopped giving out branded slips for deposits transactions, that was when my instinct started telling me that all was not well with the bank.
At a point they even stopped giving out any slip at all for deposit.
Since access bank is the one in charge, I am OK. But they should sack that incompetent Dozie ASAP.

Even Diamond does not last. Be humble

i thought it was going to drop self

Buy that stock and cry later cos it is going to dip. If you know, you know

I no longer see shares as a viable investment option in this country

I always want to open foreign account. I don't trust this country but let me when First Bank, GTBank and UBA want to bankrupt

Apparently, Diamond don't last forever [color=#990000][/color]

really excalating!

My own be say make una no feck with my money oo

Monkey market

marvin906:
i thought it was going to drop self

Speculators doing their thing

Shookonekilla:
As expected

Emeka Dozie has killed his father's legacy

Sad indeed

What do you expect when his father was paying the house rent of a man in his late thirties

What a useless son Sir Pascal Dozie has Indeed

that's harsh...
Truth be told I never really expected this actually thought the guy was doing well

Who cares the number of deals?

Cool deal for Diamond bank shareholders.

Chrismas don set for those who had the info before it leaked chai

Someone was arguing heavily in my office 2day and said "Even Buhari will vote for Atiku" Haba!!

Zanotee:

Blessings in disguise. These are great deals, meeehn.

It’s not happening

Dozies son has finally finished the bank, lesson for everyone gathering wealth for untrained child.... I don't mean academic qualifications but proper home training .

I just hope my 40billion naira is safe in their hands