Eterna, Guinness Nigeria, UAC Nigeria, UPDC make this week’s stocks-to-watch list
This week’s stocks to watch consist mostly of companies involved in acquisitions or buyback of stake, which is expected to have positive or negative impact on shareholders’ investment during the course of trading.
Ripples Nigeria Stocks Watchlist is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually generate a list of equities for investment purposes. But we have taken the pain to do that based on certain parameters in order to save you that hassle.
Kindly note that Ripples Nigeria Stocks Watchlist is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.
Eterna will be having a new majority investor soon as seven substantial shareholders have decided to sell their stake in the company to Preline Limited.
The new investor will secure 60.98 percent in the oil and gas company. Following the report by Ripples Nigeria, a sell off was experienced on Eterna’s stock which traded flat last week Friday after gaining 20 percent.
The acquisition report is expected to have an impact on Eterna trading this week as the capital market resumes, so investor need to trade with caution.
The food and beverage company’s stock value depreciated by 0.4 percent last week Friday, the same day it disclosed that a substantial shareholder, Tiger Brands, is exiting UAC Nigeria.
Tiger Brands entered into an agreement with UAC Nigeria, to sell back the 49 percent it acquired ten years ago – a deal that will be completed next month.
With UAC Nigeria stock depreciating after the disclosure, it’s unsure the level of the impact the sell off by Tiger Brands will have on existing shareholders confidence this week.
Read also: Milling companies, Pharmaceuticals and Dangote Cement make stocks-to-watch list this week
Last week Friday, Ripples Nigeria revealed that Stanbic IBTC, one of the four substantial shareholders in Guinness Nigeria, reduced its financial exposure in the alcoholic company.
Stanbic IBTC sold 27.93 million ordinary shares from its holdings, cutting down its stake in Guinness Nigeria from 6.71 percent to 5.44 percent.
This news will impact investors decision this week, as sell off by an insider is often an indicator for existing or prospective shareholders to take action.
The institutional property company is going into this week’s trading activity as last week’s top gainer after gaining 37.5 percent in five days of trading.
UPDC share price rose to N1.83kobo from N1.33kobo as investors jostle to own a share of the property company. This makes UPDC’s stock hot for the week.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
A tale of Kwara public school where pupils learn under the tree without chalkboards
“You cannot make people learn. You can only provide the right conditions for learning to happen.” – Vince Gowmon But...
SPECIAL REPORT: Indiscriminate waste dumps, open defecation pose threat of epidemic in Kwara as govt slow to act
Forty three-year-old Bilikis Abdulrahman covered her pineapple fruit she is selling inside a white bucket container. This, she does to...
SPECIAL REPORT: Women displaced by conflict in North-Central Nigeria become farm helps to survive
Displaced women finding refuge in Abagena camp for Internally Displaced Persons (IDP) camp in Makurdi, Benue State have resorted to...
FEATURE: Kwara residents cry out for help as rainstorm devastates their homes
Phillip Moffitt, an American author, said: “the house is a home when it shelters the body and comforts the soul”,...
SPECIAL REPORT: Small businesses suffer, as govts fail to end sit-at-home in Nigeria’s South-East
It is a Thursday afternoon in December 2022 and the sun is scorching inside the popular Ogbete Market in Enugu...