…Dangote Cement shop N100bn from Series 19 – 21 CP offer
Nigeria’s equities market opened the holiday-shortened trading week on a positive note, rising by 0.18 percent at the close of trading on Tuesday, the market’s first trading day this week after public holidays.
Rally recorded by stocks like Berger Paints, Etranzact, and Legend Internet helped the market to close in green zone. Berger Paints rallied the most from N20.50 to N22.55, adding N2.05 or 10 percent. Etranzact moved from N6 to N6.60, adding 60kobo or 10 percent, while Legend Internet rose from N5.34 to N5.87, adding 53kobo or 9.93 percent.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased from preceding trading day’s 112,781.73 points and N71.118 trillion respectively to 114,820.88 points and N71.897 trillion.
The market’s return this year has risen to 11.56 percent; it up this month by 2.76 percent. In 23,978 deals, investors exchanged 652,636,912 shares valued at N18.875billion. Access Holdings, Zenith Bank, GTCO, Fidelity Bank and Coronation Insurance were actively traded stocks.
Dangote Cement Plc Series 19 – 21 Commercial Paper (CP) offer of up to N100 billion under its N300 billion Commercial Paper Issuance Programme is now open and scheduled to close on Friday June 13, 2025.
Dangote Cement is Sub-Saharan Africa’s leading cement producer, with a combined capacity of 52Mta (35.3Mta in Nigeria) across its operations in 10 African countries.
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It operates a fully integrated “quarry-to-customer” business with activities covering manufacturing, sales and distribution of cement. Through its investments, the Company eliminated Nigeria’s dependence on imported cement and transformed the nation into an exporter of cement, serving neighboring countries.
“Looking forward, the equities market might be mildly positive leading to a slight gain in the ASI. This is hinged on the market benefiting from the spillover effect of excess liquidity in the financial system. Similarly, investors might start positioning for Q2-earning season in June, favouring corporates with FX gains, cost control, clear growth trajectory, and those with potentials for quality interim dividend payment,” according to Lagos-based United Capital research analysts.
“On the flip side, a potential OMO auction might reduce the inflow of funds into the equities market as elevated OMO yields keep investors anchored to the fixed income market instruments. Similarly, positive sentiments will be moderated by elevated inflation, heightened interest rate, weak Naira and general uncertainty in the global and domestic macroeconomic space,” the analysts said.
“We expect retail investors to continue to take profit from previous week’s gains, tactically slowing the upward movement of the equities market. Additionally, Thursday might be declared as public holiday to mark democracy day.
“This will reduce the total trading days for the week to three, impacting investors participation level in the market. We advise investors to cherry pick fundamentally sound stocks with potential for interim dividend payment,” United Capital analysts said.
