By Goddy Egene
FMDQ Securities Exchange Limited has approved the listing of the FSDH Funding SPV Plc’s N7.05 billion Tranche A and N4.95 billion Tranche B Series 1 Fixed Rate Bonds, under the company’s N30 billion Debt Issuance Programme on its platform.
FSDH Funding SPV Plc is a special purpose vehicle set up to raise capital from the Nigerian debt capital market for FSDH Merchant Bank Limited.
Speaking on the issuance of the bonds, the Director, FSDH Funding SPV Plc, Mr. Adekunle Awojobi, said they were pleased about the successful N12 billion capital-raise under the FSDH Funding SPV Plc’s N30.00 billion Debt Issuance Programme.
Unity Bank Plc has sustained the growth momentum demonstrated in its 2020 full year earnings as it recorded an impressive performance of 43 per cent in both profit before and after tax in Q1 2021.
In the bank’s unaudited Q1 2021 results submitted to the Nigerian Exchange Limited (NGX) on Friday, the retail lender’s profit before tax grew by 43 per cent to N784.3 million, from N550.1 million recorded in the corresponding period of 2020.
Profit after tax for the period which also grew by 43 per cent stood at N721.5 million compared to the N506.1million recorded in Q1-2020.
As an outcome of increased focus on supporting local enterprises and industry, the asset portfolio also showed a significant growth in loan book of 76 per cent as net loans and advances to customers increased to N223.2 billion, up from N126.6 billion recorded in the corresponding period.
Building of the Nigerian Stock Exchange (NSE). PHOTO: AYODELE ADENIRAN The Nigerian Exchange Limited (NGX) extended bearish sentiment to three consecutive trading sessions yesterday, as more highly capitalised stocks depreciated in price. This resulted to a further slide in market capitalisation by N167 billion. The All-Share Index (ASI) decreased by 319.08 absolute points, representing a drop of 0.81 per cent to close at 39,114.73 points while the overall market capitalisation value lost N167 billion to close at N20.470 trillion. The bearish sentiment was sustained on price depreciation in large and medium capitalised stocks amongst which are; MTN Nigeria Communications (MTNN), Dangote Cement, BOC Gases, Red Star Express and SCOA Nigeria. Analysts at Afrinvest Limited said: “We expect the market to close in the red for the week.”
MTN Nigeria completes issuance of naira bond developingtelecoms.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from developingtelecoms.com Daily Mail and Mail on Sunday newspapers.
Views: Visits 5 By Nkiruka Nnorom Ardova Plc (AP) has reported a 108.1 percent growth in Profit Before Tax (PBT) to N1.2 billion for the first quarter (Q1) ended March 31, 2021, from N0.58 billion in the corresponding period in 2020. Details of the company’s Q1’21 financial statement released on the Nigerian Exchange Limited showed that the earning per share rose to 65 kobo, a 71.1 perent increase compared to 38 kobo recorded in Q1 2020. The company’s revenue, however, declined to N41.6 billion from N52.1 billion in the corresponding period in 2020, representing 20.2 percent decline. READ ALSOOver 2,000 A-Ibom women protest murder of Iniubong Umoren Commenting on the results, Olumide Adeosun, Chief Executive Officer, Ardova Plc, said: “We had a good start in the first quarter of 2021 despite the PMS supply challenges that impacted product volumes and topline revenue across the downstream sector.