Stocks to watch list this week is dominated by company takeovers and stock market sell off, which will affect investment of shareholders in some selected companies.
NEM Insurance, May & Baker Nigeria, Champion Brew and Flour Mills of Nigeria (FMN) activities were monitored to help investors and shareholders to determine their outing 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
NEM Insurance will be opening this week from a bullish position in the capital market after its share appreciated by 85.95 percent during three days of trading at the bourse last week.
The insurance company gained N2.08 during the trading period to take its share price to N4.50kobo from N2.42kobo per share. So the asking price this week will be higher compared to its opening price last week.
May & Baker Nigeria
Shareholders of the pharmaceutical company ended last week’s trading disappointed as their stock market investment fell by 10.86 percent in three days.
May & Baker closed the trading activity as the biggest loser, so the firm will open this year’s trading from a dip position, creating an opening for prospective investors, but be cautious as always advised.
A mandatory takeover of Champion Brew has been approved by the Securities and Exchange Commission (SEC), which means control will exchange hands in the beverage company.
The Raysun Nigeria Limited was given the authority to go ahead with the takeover of 15.3% of the equity stake, which is 1,196,799,164 ordinary shares of Champion Breweries bought at a cost of N2.60kobo per share.
It’s unsure how this takeover will affect the value of Champion Brew share in the long term, but in the short term, it will drive up the value, as the selling price to Raysun is higher than the current value, which is N2.45kobo, and 6.12 percent difference.
Flour Mills of Nigeria
Flour Mills of Nigeria and Honeywell Group Limited (HGL) have reached an agreement for the former to acquire 71.69 percent stake held in Honeywell Flour Mills Plc (HFMP) by the latter.
This will handover the control of HFMP to Flour Mills of Nigeria, with the acquirer merging both products of each companies to create more value to shareholders’ investment.
The takeover is expected to have a positive or negative impact on investors investment in both companies, as their deal have been confronted by Ecobank over debt.
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