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STOCKS-TO-WATCH LIST: Seplat share struggles with govt rejection. McNichols threatened by profit-takers

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STOCKS-TO-WATCH LIST: Seplat share struggles with govt rejection. McNichols threatened by profit-takers

As trading resumes this week in the Nigerian bourse, Seplat, McNichols and Multiverse are some of the stocks that investors should watch out for.

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.

Seplat

Investors sentiment around Seplat could be affected by the setback the indigenous oil and gas company experienced in its quest to acquire Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil.

On Friday, shareholders investment in Seplat slumped by 23.3% after report emerged that the Federal Government had blocked the firm’s acquisition deal with ExxonMobil, which was meant to increase Seplat’s revenue sources.

With the capital market resuming, uncertainty surrounding the deal could extend the sell off experienced on Friday into this week, so Seplat is one stock investors need to watch out for, and trade carefully around.

McNichols

McNichols has remained the best performing stock in the Nigerian capital market for two consecutive weeks, as the bulls continue to demand for the firm’s share, resulting to 58.96% growth in shareholders investment.

Read also: Flour Mills, Total Energies, MTN Nigeria make stocks-to-watch list

The hike in the value of McNichols share comes amid a sell off by its majority investor, Ijeoma Chimaraoke, who has sold over 1.2 million shares within three weeks.

Ripples Nigeria understands that the bullish run and sell off by Chimaraoke put the firm in the crosshairs of profit-takers, which will knock down the share value of McNichols, so investors need to trade cautious as trading resumes.

Multiverse

Multiverse has reconstructed its share capital, with its share price now at N2, against pre-share reconstruction price of N0.20kobo. At the same time, its issued share capital is reduced to 426.1 million, in contrast to pre-share reconstruction of 4.26 billion.

While the share reconstruction affected the firm’s share value, its market capitalisation remained intact at N852.38 million, with its authorised share capital now at 4.50 million, against per-share reconstruction of 4.50 billion.

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