ICYMI: Union Bank, Seplat, Mutual Benefit, Julius Berger make stocks-to-watch list

Faceoff between a company and its substantial investor, as well as sell off activities in the stock market are reasons to have Union Bank, Seplat, Mutual Benefit and Julius Berger on your stocks to watch list this week.

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.

Union Bank

Union Bank is going into 2022 with a new owner, Tunde Lemo. The investment banker acquired the lender from Union Global Partners Ltd. (UGPL) after taking up 89.39 percent stake.

This acquisition will provide Union Bank with fresh capital to execute plans and new direction, as Lemo brings his experience leading Wem Bank and Flutterwave to the company.

The takeover will have a positive or negative impact on shareholders investment heading into the future, so Union Bank is one equity to watch out for in the capital market.

Seplat

There’s an ongoing confrontation between Seplat and one of its board members, Austin Avuru, who was also the former Chief Executive Officer of the oil and gas firm.

More than a year after writing a glowing statement upon his retirement as CEO, Seplat accused Avuru of violating the company’s policy and his fiduciary duties, hence his contract termination as board member.

Avuru, whose company, Platform Petroleum Limited, is a substantial investor in Seplat, has fired back at the firm – which demanded his investment company provide a replacement – stating it’s a ploy to rubbish his image.

With defamation of character already being thrown around, its left to be seen if the faceoff will be resolved without a court case, which could result into financial sanction against Seplat and affect investors confidence in the firm, considering Avuru’s position as a major shareholder.

READ ALSO: First Bank, Vitafoam, Conoil, Cutix make Ripples Nigeria stocks-to-watch list

Mutual Benefit

Mutual Benefit will be going into this week as a top gainer after finishing last week with 23.08 percent jump in its share value, improved investors investment in the company.

It deserves to be one of the stock on your watch list, but investors need to trade with caution, as a bullish stock also means a potential sell off is hanging over Mutual Benefit equity.

Julius Berger

The construction company will open this week’s trading as the top loser from last week. Julius Berger stock is currently in a dip, hence, a reason for it being listed for your interest.

Last week, Julius Berger lost a whooping N2.45kobo from its share price, which represents 9.87 percent depreciation in shareholders investment in the firm.

So when you heading into the capital market this week, watch out for Julius Berger share, but trade with caution while weighing your opinions.

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